---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-073665"
form_type: "8-K"
ticker: null
cik: "0000719739"
company_name: "SVB FINANCIAL GROUP"
filed_at: "2023-03-17T23:59:59+00:00"
generated_at: "2026-06-17T23:55:59.811349+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 1.0
calibrated_materiality_score: 1.0
confidence: "high"
source: SEC EDGAR
---

# SVB Financial Group files Chapter 11; $2.2B liquidity; $3.3B debt; Nasdaq delisting

## Summary
- Filed Chapter 11 on March 17, 2023; $2.2B liquidity; $3.3B unsecured notes; $3.7B preferred equity.
- SVB Securities and SVB Capital funds (GP entities) not included; continue operating in ordinary course.
- Nasdaq to delist common stock (SIVB) and Series A preferred (SIVBP) on March 28, 2023; no appeal planned.
- Michael Zuckert stepped down as General Counsel; William Kosturos serves as Chief Restructuring Officer.
- Strategic alternatives for SVB Capital and SVB Securities underway with significant interest; Centerview advising.

## SEC filing metadata
- accession: 0001193125-23-073665
- form_type: 8-K
- cik: 0000719739
- company_name: SVB FINANCIAL GROUP
- filed_at: 2023-03-17T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 1.0
- calibrated_materiality_score: 1.0
- confidence: high
- sec_items: 1.03, 3.01, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/719739/000119312523073665/0001193125-23-073665-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/719739/000119312523073665/d485308d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-073665
- JSON: https://secwatch.observer/filing/0001193125-23-073665.json
- Plain text: https://secwatch.observer/filing/0001193125-23-073665.txt

## Key facts
- Distress & Bankruptcy
  SVB FINANCIAL GROUP entered chapter 11 in United States Bankruptcy Court for the Southern District of New York (petition 2023-03-17).
  - Proceeding: chapter 11
  - Court: United States Bankruptcy Court for the Southern District of New York
  - Petition: 2023-03-17
  source text: On March 17, 2023, SVB Financial Group (the “Company”) announced that it had filed a voluntary petition in the United States Bankruptcy Court for the Southern District of New York (the “Bankruptcy Court”) for relief under the provisions of Chapter 11 of Title 11 of the United States Code (the “Bankruptcy Code”) on March 17, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/719739/000119312523073665/0001193125-23-073665-index.htm
- Listing & Compliance Notices
  SVB FINANCIAL GROUP received a nasdaq delisting notice notice regarding other.
  - Exchange: nasdaq
  - Notice: delisting notice
  source text: March 17, 2023, the Company received a notice from The Nasdaq Stock Market LLC (“Nasdaq”) advising the Company of its failure to satisfy one or more continued listing rules or standards of Nasdaq. Trading of the Company’s common stock (SIVB:NASDAQ) (the “Common Stock”) and the Company’s Depositary Shares, each representing a 1/40 th interest in a share of 5.250% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A (SIVBP:NASDAQ) (the “Listed Depositary Shares”) on Nasdaq was halted on March 10, 2023 and will be suspended on March 28, 2023. Nasdaq will file a Form 25-NSE with the Unite
  evidence_url: https://www.sec.gov/Archives/edgar/data/719739/000119312523073665/0001193125-23-073665-index.htm
- Executive change
  Michael Zuckert resigned as General Counsel at SVB FINANCIAL GROUP.
  - Action: resigned
  - Role: General Counsel
  source text: In connection with the Receivership, Michael Zuckert will only be providing services to Silicon Valley Bridge Bank, N.A. and will no longer serve as General Counsel of the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/719739/000119312523073665/0001193125-23-073665-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.