Silvergate Capital, a California commercial bank with a focus on digital currency businesses, filed on Friday with the SEC to raise up to $50 million in an initial public offering. The holding company operates Silvergate Bank.
The La Jolla, CA-based company was founded in 1988 and booked $16 million in net income for the 12 months ended September 30, 2018. It plans to list on the NYSE under the symbol SI. Silvergate Capital filed confidentially on August 3, 2018. Barclays and Keefe Bruyette Woods are the joint bookrunners on the deal. No pricing terms were disclosed.
