Life360 updates SVB exposure: up to $5.6M at risk, later all deposits protected

Life360, Inc.

Life360 had $95.1M total cash as of March 10, with $6.1M held at SVB.
Of the SVB deposits, ~$0.5M is FDIC-insured, leaving up to $5.6M previously at risk.
$75.4M in money market mutual funds held at SVB as custodian are not co-mingled and expected to be recovered.
Following March 12 U.S. government announcement, all SVB depositors are fully protected, mitigating initial risk.

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