Silvergate Capital Corp SI Shares are up by 30.23% to $2.24 Monday morning following the MicroStrategy Inc MSTR voluntary repayment of its Silvergate Bank loan. MicroStrategy prepaid $161.0 Million.
What’s Going On?
The Term Loan was granted in accordance with a Credit And Security AgreementDated as of March 23, 2022 between Microstrategy And Silvergate and was collateralized by certain bitcoin owned by Microstrategy as well as a $5.0 million cash reserve account.
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Silvergate agreed to accept $161 million in full repayment of the Term Loan along with all other obligations under the Credit Agreement and related loan documents.
According to Get data from Benzinga ProSI has a 52 week high of $162.64 at $1.10 and a low 52 weeks at $1.10.
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