Silvergate Bank, a crypto-friendly bank, officially began selling shares on the New York Stock Exchange on Thursday.

About a year after filing its initial public offering, Silvergate began its "IPO Day" on the New York Stock Exchange, according to the London Stock Exchange. Twitter account. The news comes a day after Silvergate received an "opinion of effectiveness" from the US Securities and Exchange Commission, stating that its long offer IPO had been accepted.

The bank currently serves more than 750 companies in cryptographic space, including stock exchanges, investors and others, according to an updated IPO prospectus filed in September 2019.

This is significantly higher than the 542 customers reported in March 2019. At the time, while the bank saw its clientele increase between November 2018 and March 2019, the assets it held declined slightly, from nearly $ 1.6 billion $ 1.5 billion in the last quarter of 2018.

At the September filing, these numbers increased again, holding $ 1.55 billion in deposits.

On November 6, SIlvergate set its share price at $ 12 per share and plans to offer 3,333,333 Class A common shares. A little less than a million of these shares are offered directly by Silvergate, while shareholders offer 2.5 million, according to a press release.

These figures are more cautious than an updated S1 filing from the end of October 2019, in which the company set the price of each share at $ 15 or less and sought to raise approximately $ 65 million in total. If it sells the 3.3 million shares at a price of $ 12 each, the company will more likely collect about $ 40 million.

The bank hopes to sell these shares under the symbol "SI" by November 12.

Silvergate could not be contacted immediately for comment.

Alan Lane, CEO of Silvergate, screenshot of the Consensus 2016 video

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