other material
confidence high
sentiment neutral
materiality 0.50
Verastem reports $2M deposit at Silicon Valley Bank; depositors fully protected by FDIC
Verastem, Inc.
- Company had ~$2 million on deposit at SVB when FDIC took control.
- Treasury, Fed, and FDIC announced all SVB depositors will be fully protected starting March 13, 2023.
- Verastem expects full access to its cash without loss.
- No other material exposure to SVB disclosed.