Seeking Alpha
2021-05-18 20:43:47

Silvergate Capital gets $295.5M proceeds from at-the-market stock offering

Silvergate Capital (SI) completes its at-the-market equity offering program, selling 2.79M shares of common stock for proceeds of $295.5M, net of commissions and fees.The proceeds will be used to support Silvergate's growth, the company said.As of March 31, 2021, Silvergate's total consolidated assets were $7.8B, an increase of $2.2B, or 38.9%, from Dec. 31, 2020.The bank's average total digital currency deposits quarter to date as of April 30, 2021 were $8.3B and increase from $6.4B during Q1.Silvergate launched the $300M ATM equity offering on March 9.

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