SVB is an avatar for tech startup health, and right now it's calling for a doctor.
SVB president and CEO Greg Becker. Photo by Marla Aufmuth/Getty Images for Watermark Conference for Women 2018.
Silicon Valley Bank said it will launch $2.25 billion common stock sale, plus another $500 million of depository shares, and said private equity firm General Atlantic is buying $500 million of common stock in a separate transaction.SVB is something of an avatar for the health of U.S. tech and life sciences startups, and right now it's calling for a doctor.SVB stock plummeted around 38% at today's open, wiping out over $6 billion in market cap .
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