Quick TakeThis week, Silvergate Bank released an updated S-1 filing which included its proposed IPO terms as well as its preliminary financial results for 3Q19Silvergate aims to raise $52 million through the sale of 3.7 million shares (~0.8 million offered by the company, ~3.0 million offered by selling shareholders)The company expects the offering price of its common stock to be between $13 to $15 per share, implying a market cap of $249 million3Q19 financial results include: 29% sequential increase in net income thanks to a more aggressive asset allocation; 11% decline in cryptocurrency-related deposits
