Sangamo recovers $34.4M in SVB deposits; funds moved to alternative banks

SANGAMO THERAPEUTICS, INC

Had approximately $34.4M in deposits with Silicon Valley Bank, substantially all uninsured.
FDIC transferred all deposits to a bridge bank on March 13; Sangamo accessed full amount.
Substantially all deposits transferred to alternative global banking providers on March 13.
Expects to migrate all banking services from SVB to alternative global banking providers.
No loss of funds; cash position unaffected by SVB closure.

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