SVB Financial Group (SIVB) said that it has priced its underwritten public offering of 2.23 million shares of its common stock at a price to the public of $564.00 per share for expected gross proceeds of about $1.25 billion before underwriting discounts and commissions and offering expenses.

Create Account

Dark

chart

exchange

RTTNews | Aug 9, 2021 11:26PM EDT

23:25 Monday, August 9, 2021 (RTTNews.com) - SVB Financial Group (SIVB) said that it has priced its underwritten public offering of 2.23 million shares of its common stock at a price to the public of $564.00 per share for expected gross proceeds of about $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 plans 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.

The offering is expected to close on August 12, 2021.

Read the original article on RTTNews ( https://www.rttnews.com/3217465/svb-financial-prices-public-offering-of-2-23-mln-shares-at-564-00-shr.aspx)

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com All Rights Reserved