Actionable Stock Market Trading Newswire. Built for Traders, by Traders.
All news is property of their respective owners.

Why Bitcoin- And Ethereum-Related Stock Silvergate Is Up 30%

Silvergate Capital Corp (NYSE: SI) shares are trading higher by 30.23% to $2.24 Monday morning after MicroStrategy Inc (NASDAQ: MSTR) reported it voluntarily prepaid its Silvergate Bank loan.
byHenry Khederian
March 27, 2023
1 minute read
Total
0
Shares
0
0
0
0
0
0

Silvergate Capital Corp (NYSE:SI) shares are trading higher by 30.23% to $2.24 Monday morning after MicroStrategy Inc (NASDAQ:MSTR) reported it voluntarily prepaid its Silvergate Bank loan. MicroStrategy prepaid approximately $161.0 million.

What Else?

The Term Loan was issued pursuant to a Credit and Security Agreement, dated as of March 23, 2022 by and between Microstrategy and Silvergate and was collateralized by certain bitcoin owned by Microstrategy and a $5.0 million cash reserve account.

See Also: Why NuCana Shares Are Nosediving

Silvergate agreed to accept $161 million in full repayment, satisfaction and discharge of the Term Loan and all other obligations under the Credit Agreement and the other related loan documents.

According to data from Benzinga Pro, SI has a 52-week high of $162.64 and a 52-week low of $1.10.

 
Total
0
Shares
Share 0
Tweet 0
Share 0
Share 0
Share 0
Share 0
Related Posts
Read More

Bill Ackman May Have Dumped Netflix, But Here Are 3 Dividend Stocks Pershing Square Is Still Holding

By Robert Kuczmarski
August 22, 2:39 PM
As the second quarter of the year passes, Pershing Square Capital has remained quiet for the most part, and has not added any new positions. However, the hedge fund did manage to completely sell its stake in Netflix Inc (NASDAQ: NFLX) of 3,109,965 shares over the second quarter of 2022.

DPZ