• 112
  • Comment
  • Favorite

SVB Financial Group Crashed Over 60% Before Halting the Morning Trading As Attempts to Raise Capital Failed

Tiger Newspress2023-03-10

Attempts by SVB Financial Group to raise capital have failed, the sources said, and the bank has hired advisors to explore a potential sale. Large financial institutions are looking at a potential purchase of SVB.

Shares of the bank fell 60% on Thursday after SVB announced a plan Wednesday evening to raise more than $2 billion in capital. The stock fell another 60% in premarket trading Friday.

Under the terms of a plan released Wednesday, SVB was looking to sell $1.25 billion in common stock and another $500 million of convertible preferred shares.

SVB also announced a deal with investment firm General Atlantic to sell $500 million of common stock, though that agreement was contingent on the closing of the other common stock offering, according to a securities filing.

Stocks crashed over 60% in morning trading and tumbled nearly 85% in 2 days.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Report

Comment

  • Seah CL
    ·2023-03-12
    K
    Reply
    Report
  • BKT
    ·2023-03-11
    Pls like thanks 
    Reply
    Report
  • Humama888
    ·2023-03-11
    Oh no! Although I don't have any of this stock
    Reply
    Report
    Fold Replies
    • tungngie
      but it is a oh no.. affecting other bank stocks as investors panic..
      2023-03-11
      Reply
      Report
  • YTigger
    ·2023-03-11
    K
    Reply
    Report
  • BKT
    ·2023-03-10
    Pls like thanks 
    Reply
    Report
    Fold Replies
  • K20
    ·2023-03-10
    Gg
    Reply
    Report
  • Manjab
    ·2023-03-10
    Gone case
    Reply
    Report
  • AcidIce
    ·2023-03-10
    Another Lehman SCANDAL!
    Reply
    Report
  • Success88
    ·2023-03-10
    Wow 
    Reply
    Report
 
 
 
 

Most Discussed

 
 
 
 
 

7x24

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Company: TTMF Limited. Tech supported by Xiangshang Yixin.

Email:uservice@ttm.financial