12/06/2021 | Press release | Distributed by Public on 12/06/2021 16:17
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Per Share
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Total
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Public offering price
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| | | $ | | | | | $ | | | ||
Underwriting discounts and commissions(1)
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| | | $ | | | | | | $ | | | |
Proceeds, before offering expenses, to us
|
| | | $ | | | | | $ | | | |
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Joint Book-Running Managers
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Goldman Sachs & Co. LLC
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J.P. Morgan
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Keefe, Bruyette & Woods
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ABOUT THIS PROSPECTUS SUPPLEMENT
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| | | | S-ii | | |
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PROSPECTUS SUPPLEMENT SUMMARY
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| | | | S-1 | | |
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THE OFFERING
|
| | | | S-4 | | |
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RISK FACTORS
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| | | | S-5 | | |
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SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS
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| | | | S-8 | | |
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USE OF PROCEEDS
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| | | | S-11 | | |
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CAPITALIZATION
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| | | | S-12 | | |
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DIVIDEND POLICY
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| | | | S-13 | | |
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DESCRIPTION OF CAPITAL STOCK
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| | | | S-14 | | |
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MATERIAL U.S. FEDERAL INCOME TAX CONSEQUENCES TO NON-U.S. HOLDERS OF
COMMON STOCK |
| | | | S-19 | | |
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UNDERWRITING
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| | | | S-23 | | |
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LEGAL MATTERS
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| | | | S-28 | | |
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EXPERTS
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| | | | S-28 | | |
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WHERE YOU CAN FIND ADDITIONAL INFORMATION
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| | | | S-28 | | |
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INCORPORATION OF CERTAIN INFORMATION BY REFERENCE
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| | | | S-29 | | |
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ABOUT THIS PROSPECTUS
|
| | | | 1 | | |
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INCORPORATION OF CERTAIN INFORMATION BY REFERENCE
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| | | | 1 | | |
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WHERE YOU CAN FIND MORE INFORMATION
|
| | | | 2 | | |
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CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
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| | | | 2 | | |
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RISK FACTORS
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| | | | 4 | | |
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ABOUT SILVERGATE CAPITAL CORPORATION
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| | | | 4 | | |
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SUPERVISION AND REGULATION
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| | | | 5 | | |
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USE OF PROCEEDS
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| | | | 6 | | |
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DESCRIPTION OF OUR SECURITIES AND THE SECURITIES TO BE REGISTERED
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| | | | 6 | | |
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CAPITAL STOCK
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| | | | 6 | | |
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COMMON STOCK
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| | | | 6 | | |
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PREFERRED STOCK
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| | | | 9 | | |
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DEBT SECURITIES
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| | | | 9 | | |
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WARRANTS
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| | | | 18 | | |
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UNITS
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| | | | 19 | | |
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SELLING SHAREHOLDERS
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| | | | 21 | | |
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PLAN OF DISTRIBUTION
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| | | | 21 | | |
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INDEMNIFICATION OF OUR DIRECTORS AND OFFICERS
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| | | | 22 | | |
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LEGAL MATTERS
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| | | | 22 | | |
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EXPERTS
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| | | | 22 | | |
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As of September 30, 2021
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Actual
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As adjusted(1)
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(unaudited)
(in thousands, except per share data) |
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Cash and cash equivalents
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| | | $ | 3,784,488 | | | | | $ | | | |
Long-term debt: | | | | | | | | | | | | | |
Subordinated debentures, net
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| | | $ | 15,841 | | | | | $ | | | |
Total long-term debt
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| | | | 15,841 | | | | | $ | | | |
Shareholders' equity: | | | | | | | | | | | | | |
Preferred stock, $0.01 par value per share, 10,000 shares authorized, $1,000 per share liquidation preference, 200 shares issued and outstanding at September 30, 2021 and as adjusted
|
| | | | 2 | | | | | | | | |
Class A common stock, $0.01 par value per share, 125,000 shares
authorized, 26,536 shares issued and outstanding at September 30, 2021 and shares issued and outstanding as adjusted |
| | | | 265 | | | | | | | | |
Class B non-voting common stock, $0.01 par value per share, 25,000
shares authorized, no shares outstanding at September 30, 2021 and no shares outstanding as adjusted |
| | | | - | | | | | | | | |
Additional paid-in capital
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| | | | 891,611 | | | | | | | | |
Retained earnings
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| | | | 175,485 | | | | | | | | |
Accumulated other comprehensive income
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| | | | 4,718 | | | | | | | | |
Total shareholders' equity
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| | | | 1,072,081 | | | | | | | | |
Total capitalization
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| | | $ | 1,087,922 | | | | | $ | | | |
Company capital ratios:(2) | | | | | | | | | | | | | |
Tier 1 leverage ratio
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| | | | 8.71% | | | | | | % | | |
Common equity tier 1 capital ratio
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| | | | 40.98% | | | | | | % | | |
Tier 1 capital to risk-weighted assets
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| | | | 50.80% | | | | | | % | | |
Total Risk-based capital ratio
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| | | | 51.13% | | | | | | % | | |
Common equity to total assets
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| | | | 6.88% | | | | | | % | | |
Per Share: | | | | | | | | | | | | | |
Book value per common share
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| | | $ | 33.10 | | | | | $ | | | |
Underwriters
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Number of Shares
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Goldman Sachs & Co. LLC
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J.P. Morgan Securities LLC
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Keefe, Bruyette & Woods, Inc.
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Total
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| | | | 2,435,905 | | |
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No Exercise
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Full Exercise
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Per Share
|
| | | $ | | | | | $ | | | ||
Total
|
| | | $ | | | | | $ | | |
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ABOUT THIS PROSPECTUS
|
| | | | 1 | | |
|
INCORPORATION OF CERTAIN INFORMATION BY REFERENCE
|
| | | | 1 | | |
|
WHERE YOU CAN FIND MORE INFORMATION
|
| | | | 2 | | |
|
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
|
| | | | 2 | | |
|
RISK FACTORS
|
| | | | 4 | | |
|
ABOUT SILVERGATE CAPITAL CORPORATION
|
| | | | 4 | | |
|
SUPERVISION AND REGULATION
|
| | | | 5 | | |
|
USE OF PROCEEDS
|
| | | | 6 | | |
|
DESCRIPTION OF OUR SECURITIES AND THE SECURITIES TO BE REGISTERED
|
| | | | 6 | | |
|
Capital Stock
|
| | | | 6 | | |
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Common Stock
|
| | | | 6 | | |
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Preferred Stock
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| | | | 9 | | |
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Debt Securities
|
| | | | 9 | | |
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Warrants
|
| | | | 18 | | |
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Units
|
| | | | 19 | | |
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Depositary Shares
|
| | | | 19 | | |
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SELLING SHAREHOLDERS
|
| | | | 21 | | |
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PLAN OF DISTRIBUTION
|
| | | | 21 | | |
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INDEMNIFICATION OF OUR DIRECTORS AND OFFICERS
|
| | | | 22 | | |
|
LEGAL MATTERS
|
| | | | 22 | | |
|
EXPERTS
|
| | | | 22 | | |
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Joint Book-Running Managers
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| Goldman Sachs & Co. LLC | | |
J.P. Morgan
|
| |
Keefe, Bruyette & Woods
|
|