SVB Financial Group (SIVB) Prices 2.27M Share Offering at $564/sh
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SVB Financial Group Announces Pricing of Offering of Common Stock
August 9, 2021 11:17 PM EDTSANTA CLARA, Calif., Aug. 9, 2021 /PRNewswire/ -- SVB Financial Group ("SVB") (NASDAQ: SIVB), announced today the pricing of its underwritten public offering of 2,227,000 shares of its common stock at a price to the public of $564.00 per share for expected gross proceeds of approximately $1.25 billion before underwriting discounts and commissions and offering expenses. SVB has also granted the underwriter an option to purchase up to an additional 334,000 shares of its common stock. 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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