SVB Financial Group announces pricing of
offering
SVB Financial Group, the parent company of Silicon Valley Bank and premier financial partner to innovative companies of all sizes and their investors worldwide, announced the pricing of its underwritten registered public offering of 3,900,000 shares of its common stock at a price to the public of USD 101 per share. SVB Financial Group also granted the underwriters a 30-day option to purchase up to an additional 585,000 shares of its common stock to cover over-allotments. Closing of the offering is expected to occur on May 19, 2014, subject to customary closing conditions. SVB Financial Group intends to use the net proceeds from the offering for general corporate purposes to support SVB Financial Group's plans to grow its business and operations. General corporate purposes may include working capital, capital expenditures and continued lending to clients through Silicon Valley Bank. J.P. Morgan and BofA Merrill Lynch are acting as joint book-running managers for the offering. Keefe, Bruyette & Woods A Stifel Company, RBC Capital Markets, and Sandler O'Neill + Partners, L.P. are acting as co-managers.
SVB Financial Group, the parent company of Silicon Valley Bank and premier financial partner to innovative companies of all sizes and their investors worldwide, announced the pricing of its underwritten registered public offering of 3,900,000 shares of its common stock at a price to the public of USD 101 per share. SVB Financial Group also granted the underwriters a 30-day option to purchase up to an additional 585,000 shares of its common stock to cover over-allotments. Closing of the offering is expected to occur on May 19, 2014, subject to customary closing conditions. SVB Financial Group intends to use the net proceeds from the offering for general corporate purposes to support SVB Financial Group's plans to grow its business and operations. General corporate purposes may include working capital, capital expenditures and continued lending to clients through Silicon Valley Bank. J.P. Morgan and BofA Merrill Lynch are acting as joint book-running managers for the offering. Keefe, Bruyette & Woods A Stifel Company, RBC Capital Markets, and Sandler O'Neill + Partners, L.P. are acting as co-managers.
