Svb Financial Group (SIVB) Prices 2M Share Common Offering at $500/Sh
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SVB Financial Group Announces Pricing of Offering of Common Stock
March 22, 2021 10:52 PM EDTSANTA CLARA, Calif., March 22, 2021 /PRNewswire/ -- SVB Financial Group ("SVB") (NASDAQ:Â SIVB), announced today the pricing of its underwritten public offering of 2,000,000 shares of its common stock at a price to the public of $500.00 per share for expected gross proceeds of approximately $1,000,000,000 before underwriting discounts and commissions and offering expenses. SVB has also granted the underwriters an option to purchase up to an additional 300,000 shares of its common stock to cover over-allotments. SVB intends to use the net proceeds from the offering for general corporate purposes, including supporting capital ratios at SVB and its subsidiary bank, Silicon Valley Bank.
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