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Home›Spain Economy›Signature Bank Announces Public Offering of Shares

Signature Bank Announces Public Offering of Shares

By James K. Martin
January 19, 2022
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New York-based commercial bank Signature Bank Tuesday, January 18, disclosed the price of its underwritten offer of 2.1 million common shares at $352 per share.

The bank also gave the underwriters a 30-day option to purchase up to 315,000 additional common shares. It intends to reinvest the proceeds of the offering in itself, in accordance with the company announcement Wednesday (January 19).

Goldman Sachs & Co. LLC, Morgan Stanley and Jefferies are acting as bookrunners in the offering, which is expected to close Thursday (January 20), subject to closing conditions.

Related: Boston FinTech Circle partners with Signature Bank of New York

Signature Bank is the leading fintech financial institution based in Boston Circle and has held reserve deposits since the partnership was announced in mid-April.

Signature Bank’s duty is to “hold billions of dollars in reserve deposits tied to USD Coin (USDC),” the digital dollar stablecoin, according to the announcement.

The two companies also plan to integrate Circle with Signet, Signature Bank’s blockchain-based digital payments platform that enables real-time payments.

Read also : Nubank goes public at $41.5 billion with Latin America growth on the horizon

In December, the Brazilian FinTech Nubank announced that its valuation reached $41.5 billion, higher than that of the country’s largest bank, Itaú Unibanco. This figure makes the startup the most valuable listed financial institution in South America.

Nubank is expanding into Mexico and Colombia, steps it is taking to extend its reach across Latin America, said David Vélez, Founder and Managing Director.

Nubank started out as a credit card company with no annual fee. It has nearly 50 million mobile app users for its savings accounts, business loans, insurance and investment products.

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NEW PYMNTS DATA: AUTHENTICATION OF IDENTITIES IN THE DIGITAL ECONOMY – DECEMBER 2021

On:More than half of US consumers believe biometric authentication methods are faster, more convenient and more reliable than passwords or PINs. So why do less than 10% use them? PYMNTS, in collaboration with Mitek, surveyed over 2,200 consumers to better define this perception in relation to the usage gap and identify ways companies can increase usage.

Related posts:

  1. Signature Bank is doing very well. And it will do a lot better
  2. Senior Vice President Nick Dolik of Signature Bank talks venture capital debt and alternative financing on the BARE Ventures podcast
  3. Prime Group Launches Signature Lands Wallet with Elinor Battaramulla – Other
  4. Best Low Interest Personal Loans of January 2022 – Forbes Advisor
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