This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

SVB Financial Group Announces Proposed Offering

SANTA CLARA, Calif., May 12, 2014 /PRNewswire/ -- SVB Financial Group (Nasdaq: SIVB), the parent company of Silicon Valley Bank and premier financial partner to innovative companies of all sizes and their investors worldwide, announced today that it intends to offer, subject to market and other conditions, approximately 3,900,000 shares of its common stock in an underwritten registered public offering.  SVB Financial Group also intends to grant the underwriters an option to purchase up to an additional 585,000 shares of its common stock to cover over-allotments.

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 will act as joint book-running managers for the offering. Keefe, Bruyette & Woods A Stifel Company, RBC Capital Markets, and Sandler O'Neill + Partners, L.P. will act as co-managers.

An effective registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission on May 12, 2014. The offering is being made only by means of the registration statement, including a preliminary prospectus and final prospectus, copies of which may be obtained, when available, from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone 1-866 803-9204; or BofA Merrill Lynch, Attn: Prospectus Department, 222 Broadway, New York, NY 10038, email dg.prospectus_requests@baml.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs