Silvergate Capital Corp

Silvergate Capital Corp (SI) priced its initial public offering on Nov 8, 2019 at $12.00 per share, below its $13.00–$15.00 range, raising $40M, and listed on NYSE. At the IPO price its market capitalization was about $223.9M. Barclays was lead-left underwriter, joined by Stifel, Galaxy Digital Advisors and Performance Trust Capital Partners. Holland & Knight and Davis Polk advised the underwriters.

Silvergate Capital Corp is the Maryland-incorporated parent of Silvergate Bank, a California-chartered Federal Reserve member bank. The bank offers an API-based platform for businesses with frequent transfers, such as escrow, marketplace lenders and crowdfunding aggregators.

Status

IPO

Ticker

SI

Exchange

NYSE

Priced

Nov 8, 2019

IPO price

$12.00

Price range

$13.00–$15.00

Raised

$40M

Market cap at IPO price

$223.9M

First filed

Nov 16, 2018

Underwriters

Barclays, Stifel, Galaxy Digital Advisors and Performance Trust Capital Partners

Underwriters' counsel

Holland & Knight and Davis Polk

Sector

Financials

Country / state

CA

Market cap at IPO price = shares outstanding after the offering (all classes, before the over-allotment option) × the IPO price, from the final prospectus.