Silicon Valley Bank Capital-Raise Failed, Deposit-Outflows Outpacing Sales Process; Report

March 10, 2023

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Update (0900ET): CNBC's David Faber reports that SVB has sought an adviser to find a buyer after attempts to raise capital have failed. However, Faber added that deposit outflows are outpacing any efforts to find a buyer...

Trading in Silicon Valley Bank shares has been halted for news pending after they plunged another 65% overnight after numerous icon VCs recommended clients pull cash from the struggling regional bank...

Perhaps more problematically, SVB's bonds (1.8s of 2031) are collapsing...

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