SVB

Climate Tech Proves More Resilient; Silicon Valley Bank Releases Annual Climate Tech Report

Retrieved on: 
Wednesday, June 21, 2023

SAN FRANCISCO, June 21, 2023 /PRNewswire/ -- With global efforts underway to achieve a goal of net-zero greenhouse emissions by 2050, the climate technology sector is more stable than other sectors, according to a new report from Silicon Valley Bank (SVB), a division of First Citizens Bank. While the venture capital (VC) ecosystem has experienced the most significant valuation correction in over a decade, climate tech valuations have remained at or above their 2021 levels since investors recognize the growing opportunity for climate technologies.

Key Points: 
  • According to the report, the number of active investors in seed-stage U.S. climate tech companies decreased by 37% while the decline in active investors in seed-stage fell by 51% across broader tech, reflecting an optimistic view for the future of climate tech.
  • SVB's Future of Climate Tech report provides an in depth look at current fundraising activity and challenges, investment trends, and emerging technologies.
  • Since the start of 2022, investment in climate tech has outperformed broader tech sectors and is now 20 percentage points above the tech market at large.
  • Median series D+ climate tech valuations are up 13% from the peak in 2021, while the median series D+ tech valuation (excluding climate tech) fell 67%.

SVB Securities' Management Team Signs Definitive Agreement for Buyout of SVB Securities from SVB Financial Group; Firm to Rebrand as Leerink Partners

Retrieved on: 
Sunday, June 18, 2023

Upon closing of the transaction and completion of its rebranding, Leerink Partners will continue as a leading healthcare-focused investment bank.

Key Points: 
  • Upon closing of the transaction and completion of its rebranding, Leerink Partners will continue as a leading healthcare-focused investment bank.
  • "The management team and I are excited to return to our heritage of owning and leading the premier healthcare investment bank and relaunching the business under the trusted Leerink Partners brand," stated Jeff Leerink, Chairman and Chief Executive Officer.
  • Leerink continued, "I would like to thank our entire team for its incredible efforts over many years and particularly over the last few months.
  • The management-led buyout is subject to final confirmation from the United States Bankruptcy Court and regulatory approval as well as other customary closing conditions.

SVB Financial Group Enters into Definitive Purchase Agreement to Sell SVB Securities to Management Team Group Led by Jeff Leerink and Backed by The Baupost Group

Retrieved on: 
Sunday, June 18, 2023

MoffettNathanson LLC, a sell-side research business owned by SVB Financial Group, is not included in the transaction and will remain part of SVB Financial Group.

Key Points: 
  • MoffettNathanson LLC, a sell-side research business owned by SVB Financial Group, is not included in the transaction and will remain part of SVB Financial Group.
  • "This transaction is a significant milestone in SVB Financial Group's strategic alternatives process," said Bill Kosturos, SVB Financial Group's Chief Restructuring Officer.
  • SVB Financial Group is continuing to evaluate strategic alternatives for SVB Capital and the Company's other assets and investments.
  • US Inc. is serving as financial advisor to the Leerink Management Team and to The Baupost Group funds.

SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of First Republic Bank - FRC

Retrieved on: 
Saturday, June 17, 2023

NEW YORK, June 17, 2023 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of First Republic Bank (“First Republic” or the “Company”) (OTCMKTS: FRCB).

Key Points: 
  • NEW YORK, June 17, 2023 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of First Republic Bank (“First Republic” or the “Company”) (OTCMKTS: FRCB).
  • The investigation concerns whether First Republic and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
  • On March 13, 2023, following the collapse of Silicon Valley Bank, Silvergate Bank, and Signature Bank, First Republic led a wave of declining bank share prices, based on liquidity concerns.
  • Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions.

SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of First Republic Bank - FRC

Retrieved on: 
Thursday, June 15, 2023

NEW YORK, June 15, 2023 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of  First Republic Bank ("First Republic" or the "Company") (OTCMKTS: FRCB).

Key Points: 
  • NEW YORK, June 15, 2023 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of  First Republic Bank ("First Republic" or the "Company") (OTCMKTS: FRCB).
  • The investigation concerns whether First Republic and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
  • On March 13, 2023, following the collapse of Silicon Valley Bank, Silvergate Bank, and Signature Bank, First Republic led a wave of declining bank share prices, based on liquidity concerns.
  • Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions.

Kura Oncology Announces Pricing of $100 Million Public Offering of Common Stock and Pre-Funded Warrants

Retrieved on: 
Wednesday, June 14, 2023

SAN DIEGO, June 14, 2023 (GLOBE NEWSWIRE) -- Kura Oncology, Inc. (Nasdaq: KURA), a clinical-stage biopharmaceutical company committed to realizing the promise of precision medicines for the treatment of cancer, today announced the pricing of an underwritten public offering of common stock and pre-funded warrants.

Key Points: 
  • SAN DIEGO, June 14, 2023 (GLOBE NEWSWIRE) -- Kura Oncology, Inc. (Nasdaq: KURA), a clinical-stage biopharmaceutical company committed to realizing the promise of precision medicines for the treatment of cancer, today announced the pricing of an underwritten public offering of common stock and pre-funded warrants.
  • Kura is selling 5,660,871 shares of its common stock and pre-funded warrants to purchase 3,034,782 shares of its common stock in the offering.
  • The shares of common stock are being sold at a price to the public of $11.50 per share, and the pre-funded warrants are being sold at a price to the public of $11.4999 per pre-funded warrant.
  • In addition, Kura has granted the underwriters a 30-day option to purchase up to an additional 1,304,347 shares of common stock.

Kura Oncology Announces Commencement of Public Offering of Common Stock and Pre-Funded Warrants

Retrieved on: 
Tuesday, June 13, 2023

In connection with the offering, Kura expects to grant the underwriters a 30-day option to purchase additional shares of its common stock in an amount up to 15% of the securities offered in the public offering.

Key Points: 
  • In connection with the offering, Kura expects to grant the underwriters a 30-day option to purchase additional shares of its common stock in an amount up to 15% of the securities offered in the public offering.
  • All of the shares of common stock and pre-funded warrants to be sold in the proposed offering will be offered by Kura.
  • There can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
  • BofA Securities, Jefferies and SVB Securities are acting as joint bookrunning managers in the offering.

Glancy Prongay & Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against First Republic Bank (FRCB)

Retrieved on: 
Tuesday, June 13, 2023

You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at [email protected] to learn more about your rights.

Key Points: 
  • You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at [email protected] to learn more about your rights.
  • In response, First Republic’s stock price fell $83.79, or 72.9%, to close at $31.21 per share on March 13, 2023.
  • To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action.
  • Glancy Prongay & Murray LLP, Los Angeles

Oculis Announces Partial Exercise of Underwriters’ Option to Purchase Additional Ordinary Shares

Retrieved on: 
Tuesday, June 13, 2023

After giving effect to the issuance of these additional shares, which closed today, Oculis has sold a total of 3,654,234 ordinary shares in the offering for aggregate gross proceeds of approximately $42.0 million, before deducting underwriting discounts and commissions and offering expenses.

Key Points: 
  • After giving effect to the issuance of these additional shares, which closed today, Oculis has sold a total of 3,654,234 ordinary shares in the offering for aggregate gross proceeds of approximately $42.0 million, before deducting underwriting discounts and commissions and offering expenses.
  • BofA Securities and SVB Securities acted as joint book-running managers for this offering.
  • Wedbush PacGrow, Baird, H.C. Wainwright & Co. and Pareto Securities acted as co-managers for the offering.
  • The securities referred to in this press release were offered in the United States only by means of a prospectus.

NewAmsterdam Pharma Announces Closing of Upsized Secondary Offering of Ordinary Shares

Retrieved on: 
Friday, June 9, 2023

The Company did not receive any proceeds from the Offering.

Key Points: 
  • The Company did not receive any proceeds from the Offering.
  • Jefferies and SVB Securities acted as joint book-running managers for the Offering.
  • 1 to the Form F-1, declared effective by the SEC on April 24, 2023.
  • Cantor Fitzgerald & Co. and Van Lanschot Kempen N.V. acted as financial advisers to the Company.