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SVB Abandons Equity Raise, Imperiling Efforts to Restore Calm

SVB Financial Group abandoned a planned equity raise and a number of prominent venture capital firms pulled money as a precaution. Shares of SVB plunged as much as 69% in pre-market New York trading.

1 min read
  • SVB Financial Group abandoned a planned equity raise, casting doubt on its efforts to shore up capital.
  • A number of prominent venture capital firms pulled money as a precaution after SVB reported losses on its securities portfolio and a slowdown in funding.
  • Shares of SVB plunged as much as 69% in pre-market New York trading on Friday before the shares were halted.
SVB Abandons Equity Raise, Imperiling Efforts to Restore Calm
SVB Financial Group abandoned a planned equity raise, casting doubt on its efforts to shore up capital as it grapples with losses on its securities portfolio and dwindling deposits from start-ups.
BloombergGillian Tan

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