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action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home4/scienrds/scienceandnerds/wp-includes/functions.php on line 6114Source:https:\/\/techcrunch.com\/2023\/03\/09\/silicon-valley-banks-shares-are-tanking-as-a-mess-unfolds\/<\/a><\/br> Shares of Silicon<\/span> Valley Bank are down sharply Thursday in the wake of the company\u2019s announcement that it is raising additional capital by selling stock<\/a>, taking a charge to roll over an asset portfolio to higher-yielding assets and extending its term-borrowing capacity.<\/p>\n Given recent banking-related carnage in the tech<\/a> and tech-adjacent worlds, there\u2019s concern in the market that not all is well at SVB. Company CEO Greg Becker said in a call with venture clients that their assets are safe and that the stock sale was announced as an attempt to increase financial flexibility, strength and profitability at the bank.<\/p>\n Becker said the bank has \u201cample liquidity\u201d to support its clients \u201cwith one exception: If everybody is telling each other that SVB is in trouble, that will be a challenge.\u201d The executive asked VC clients to \u201cstay calm. That\u2019s my ask. We\u2019ve been there for 40 years, supporting you, supporting the portfolio companies, supporting venture capitalists.\u201d<\/p>\n The bank\u2019s share price has fallen more than 60% at time of publication compared to last year.<\/p>\n
\nSilicon Valley Bank\u2019s shares are tanking as a mess unfolds<\/br>
\n2023-03-09 21:37:24<\/br><\/p>\n