SVB (Silicon Valley Bank)
TLDR:
Bank for startups SVB lost $1.8 billion on treasuries and mortgage-backed securities, due to rising interest rates.
To shore up its balance sheet it planned to issue $1.25 billion of its common stock to investors, $500 million in convertible preferred shares, and $500 million of its common stock.
Investors are spooked and shares are down +80% AH. Does this cause a contagion? Or will a bigger bank swoop in and grab a fire sale? This is the question.
https://techcrunch.com/2023/03/09/silicon-valley-bank-shoots-self-in-foot/amp/
MainStreetChungus /
npub1pv…2d7a5
2023-03-10 01:55:56
Author Public Key
npub1pvuugp6fyj6t6yeq9ajzv28p54w07sg6jpxvzuu5yc7qmu9edpkqm2d7a5Published at
2023-03-10 01:55:56Event JSON
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"content": "SVB (Silicon Valley Bank)\nTLDR: \nBank for startups SVB lost $1.8 billion on treasuries and mortgage-backed securities, due to rising interest rates.\n\nTo shore up its balance sheet it planned to issue $1.25 billion of its common stock to investors, $500 million in convertible preferred shares, and $500 million of its common stock.\n\nInvestors are spooked and shares are down +80% AH. Does this cause a contagion? Or will a bigger bank swoop in and grab a fire sale? This is the question.\n\nhttps://techcrunch.com/2023/03/09/silicon-valley-bank-shoots-self-in-foot/amp/",
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}