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.
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April 24, 2026 15:15 ET Economics news flow was relatively light this week even as the conflict in the Middle East continued, raising concerns for policymakers. In the U.S., spending data, initial jobless claims and pending home sales were the highlights. Business confidence in the biggest euro area economy was in focus in Europe. Inflation data from Japan gained attention in Asia.