Silvergate bank goes public on the New York Stock Exchange

Silvergate IPO

On Thursday, Nov. 6, a crypto-friendly Silvergate bank started marketing its shares on the New York Stock Exchange.

The IPO day of the bank was exactly after a year it has registered for going public, according to a tweet in NYSE account.

This event was announced after Silvergate got a “notice of effectiveness” from the US SEC, where the commission mentioned the bank’s long-running IPO bid had been accepted.

As to an information Silvergate mentioned in September last year, it is currently working with 750 various crypto firms: from exchanges to investors.

The bank valued its assets price at $12 per share on Thursday, and it intends to offer 3,333,333 shares of Class A official stock. Just a million of them are being suggested by Silvergate. Shareholders are going to trade about 2,5 million shares. If the corporation sells the number of shares it plans to, it will raise about $40 million.

Silvergate hopes to sell all the shares under the “SI” ticker by November 12.

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