Streaming company Roku (ROKU) – Get Free Report, disclosed on Friday that it has 26% of its total cash and cash equivalents at Silicon Valley Bank which was shut down by the FDIC.
Roku said it had $487 million of cash out of a total of s $1.9 billion in uninsured deposits at SVB which was placed into federal receivership on Friday, according to a SEC filing.
Space company Rocket Lab USA (RKLB) – Get Free Report said in a SEC filing that it had $38 million in cash or 7.9% of its cash as of Dec. 31 with SVB. The company made no other comments in the filing and did not address where the remainder of its cash was being held. Shares of Rocket Lab fell 2.3% in after hours trading.
The majority of account holders at SVB, which on Friday was shut down by regulators and taken over by the FDIC, had balances that exceed $250,000, Gary Zimmerman, chief executive of MaxMyInterest, the New York financial-technology company, told TheStreet.
Shares of SVB Financial were halted by officials on the Nasdaq Friday following a liquidity crunch that triggered an emergency capital increase and raised concern about the value of billions in Treasury bonds held in bank portfolios around the country.
The bank lost $1.8 billion in part by losses in a $21 billion Treasury bond portfolio.SVB Collapse: Roku Had $487 Million In Cash At Failed Bank, Rocket Lab, Roblox Also Affected