Santa Clara, California.And August. 9, 2021 /PRNewswire/– SVB Financial Group (“SVB”) (NASDAQ:SIVB) today announced pricing for its IPO of 2,227,000 shares of its common stock at a public price. $564.00 Approx. per share of whole expected return $1.25 billion Before subscribing with discounts, commissions and subtracting expenses. SVB also gave the insurance company the 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 the capital ratios of SVB and its subsidiary, Silicon Valley Bank.
Goldman Sachs & Company. The LLC acts as the book management director for the show.
Offer expected to close August. 12, 2021Subject to customary closing conditions.
The offer is made pursuant to an effective shelf registration statement, including the prospectus and supplement to prospectus submitted by SVB to the US Securities and Exchange Commission (“SEC”). Investors should read the prospectus in this registration statement, the related prospectus appendix, and other documents that SVB has filed with the Securities and Exchange Commission for more conclude information about SVB and the offer prior investing. These documents can be obtained free of charge by visiting the SEC website at www.sec.gov. Alternatively, the SVB, the underwriter or any dealer participating in the offering will arrange for the prospectus contained in the registration statement to be sent, together with the pertinent prospectus supplement, if requested by contacting Goldman Sachs & Co. LLC at 200 West Street, New York, New York 10282, Attn: Bulletin Department, Phone: 1-866-471-2526, Fax: 212-902-9316 or by email to firstname.lastname@example.org. This press release is for informational purposes only and does not constitute an offer to sell such securities or a solicitation of an offer to purchase such securities, nor shall there be any sale of such securities in any state or jurisdiction in which such an offer or solicitation is. or the sale would be illegal prior to registration or qualification under the securities laws of any state or jurisdiction.
About SVB Financial Group
For nearly 40 years, SVB Financial Group (NASDAQ:SIVB) and its affiliates have helped innovative companies and their investors move forward with bold ideas quickly. SVB Financial Group companies, including Silicon Valley Bank, provide commercial, investment and private banking, asset management, private riches management, brokerage, investment and money management services to businesses in the technology, life sciences, healthcare, private equity and venture capital, and premium wine industries. Based in Santa Clara, CaliforniaSVB Financial Group operates in innovation centers around the world.
SVB Financial Group is the holding company for all business units and groups © 2021 SVB Financial Group. All rights reserved. SVB, SVB FINANCIAL GROUP, SILICON VALLEY BANK, MAKE NEXT HAPPEN NOW and chevron hardware are trademarks of SVB Financial Group, used under license. Silicon Valley Bank is a member of the Federal Insurance Corporation (FDIC) and the Federal Reserve System. Silicon Valley Bank is the California branch of SVB Financial Group.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to known and unknown risks and uncertainties, many of which may be outside the control of SVB Financial Group. Forward-looking statements are statements that are not historical facts and can generally be identified by using words such as “become,” “may,” “will,” “should,” “could,” “will,” “expect,” “possibility,” “persevere.” , “expect”, “believe”, “estimate”, “seek”, “expect”, “plan”, “intend”, the negative of these words or similar terms. Although SVB Financial Group believes that the expectations reflected in the forward-looking statements of SVB Financial Group are reasonable, SVB Financial Group has based these expectations on its current beliefs as well as its assumptions, and such expectations may not be correct. Because forward-looking statements relate to the coming, they are subject to inherent uncertainties, risks and changes in circumstances that are firm to predict, many of which are outside the control of SVB Financial Group. Forward-looking statements regarding the presentation, actual results of operations and financial performance of SVB could differ materially from those expressed in SVB’s forward-looking statements or implied (for example, due to the COVID-19 pandemic and its effects in the economic and business environments in which SVB operates). finance). The forward-looking statements included in this disclosure are made only as of the date of this disclosure. SVB Financial Group neither intends nor undertakes any obligation to update these forward-looking statements.
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SOURCE SVB Financial Group