Share this article
Silvergate Bank Looks to Raise $461M in Public Stock Offering
The shares will be priced at a maximum $145 each.
Updated May 11, 2023, 7:03 p.m. Published Dec 8, 2021, 11:41 a.m.
Silvergate Bank is looking to raise around $461 million through sale of 3.31 million shares of common stock.
- The crypto-focused bank estimates that net proceeds will be around $532 million if underwriters exercise their option to purchase additional shares in full, according to a filing Wednesday.
- The shares will be priced at a maximum $145 each.
- Silvergate intends to use the net proceeds to supplement its regulatory capital levels and support its growth through strategic acquisitions and other initiatives.
- According to the filing, Silvergate’s digital currency deposits were $15.6 billion as of Nov. 30.
- The bank recently received an endorsement from JPMorgan, when the investment banking giant gave Silvergate an overweight recommendation.
- The company’s shares closed at $165.16 on the New York Stock Exchange yesterday.
See also: Crypto-Friendly Silvergate Bank Goes Public on New York Stock Exchange
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
UPDATE (Dec. 8, 11:53 UTC): Adds proposed sale price in second bullet point.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
VanEck's new Avalanche ETF filing to include staking rewards for AVAX investors
The fund will use Coinbase Crypto Services as its initial staking provider and pay a 4% service fee, with rewards accruing to the fund and reflected in its net asset value.
What to know:
- VanEck has updated its filing for an Avalanche ETF, VAVX, to include staking rewards, aiming to generate income for investors by staking up to 70% of its AVAX holdings.
- The fund will use Coinbase Crypto Services as its initial staking provider and pay a 4% service fee, with rewards accruing to the fund and reflected in its net asset value.
- If approved, the fund will trade on Nasdaq under the ticker VAVX, tracking AVAX's price via a custom index, and will be custodied with regulated providers, including Anchorage Digital and Coinbase Custody.
Top Stories
