Chief executive Greg Becker asked the Bay Area’s leading venture capitalists, to whom the bank caters, not to start a run on the bank and “to support us just like we supported you during the challenging times.” He made the comments after SVB’s stock plunged on news the startup-focused lender plans to sell US$1.25 billion of its common stock and another US$500 million of mandatory convertible shares to investors. (The Information, Financial Times)
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