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Silvergate Bank Looks to Raise $461M in Public Stock Offering
The shares will be priced at a maximum $145 each.
Updated May 11, 2023, 7:03 p.m. Published Dec 8, 2021, 11:41 a.m.
Silvergate Bank is looking to raise around $461 million through sale of 3.31 million shares of common stock.
- The crypto-focused bank estimates that net proceeds will be around $532 million if underwriters exercise their option to purchase additional shares in full, according to a filing Wednesday.
- The shares will be priced at a maximum $145 each.
- Silvergate intends to use the net proceeds to supplement its regulatory capital levels and support its growth through strategic acquisitions and other initiatives.
- According to the filing, Silvergate’s digital currency deposits were $15.6 billion as of Nov. 30.
- The bank recently received an endorsement from JPMorgan, when the investment banking giant gave Silvergate an overweight recommendation.
- The company’s shares closed at $165.16 on the New York Stock Exchange yesterday.
See also: Crypto-Friendly Silvergate Bank Goes Public on New York Stock Exchange
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UPDATE (Dec. 8, 11:53 UTC): Adds proposed sale price in second bullet point.
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French Banking Giant BPCE to Roll Out Crypto Trading for 2M Retail Clients
The service will allow customers to buy and sell BTC, ETH, SOL, and USDC through a separate digital asset account managed by Hexarq.
Що варто знати:
- French banking group BPCE will start offering crypto trading services to 2 million retail customers through its Banque Populaire and Caisse d’Épargne apps, with plans to expand to 12 million customers by 2026.
- The service will allow customers to buy and sell BTC, ETH, SOL, and USDC through a separate digital asset account managed by Hexarq, with a €2.99 monthly fee and 1.5% transaction commission.
- The move follows similar initiatives by other European banks, such as BBVA, Santander, and Raiffeisen Bank, which have already started offering crypto trading services to their customers.
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