Mediaboss Marketing

Silvergate Capital Corp SI shares are trading higher by 30.23% to $2.24 Monday morning after MicroStrategy Inc MSTRreported it voluntarily prepaid its Silvergate Bank loan. MicroStrategy prepaid approximately $161.0 million.

What Else?

The Term Loan was issued pursuant to a Credit and Security Agreement, dated as of March 23, 2022 by and between Microstrategy and Silvergateandwas collateralized by certain bitcoin owned by Microstrategy and a$5.0 millioncash reserve account.

See Also:Why NuCana Shares Are Nosediving

Silvergate agreed to accept$161 million in full repayment, satisfactionand discharge of the Term Loan and all other obligations under the Credit Agreementand the other related loan documents.

According to data fromBenzinga Pro, SI has a 52-week high of $162.64 and a 52-week low of $1.10.

2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Get ready to uncover the secrets of decentralized finance and security in the crypto market with Crypto Unlocked , Benzinga's new virtual crypto event series. Don't miss out on this opportunity to learn from the experts and connect with fellow crypto enthusiasts subscribe and turn on notifications for Crypto Unlocked on YouTube today !

Read more here:

Why Bitcoin- And Ethereum-Related Stock Silvergate Is Up 30 ... - Benzinga