The research division is planning to proceed with all events, conference calls, scheduled meetings and its upcoming investor conference in May, according to a note to clients seen by Bloomberg.
“While events continue to evolve rapidly, we have every expectation of maintaining business as usual,” Craig Moffett and Michael Nathanson, cofounders of the company, said in the message.
Silicon Valley Bank agreed to acquire MoffettNathanson, an equities-research firm known for its coverage of internet, media and communications companies, in 2021.
SVB became the biggest US lender to fail in more than a decade on Friday, after a tumultuous week that saw an unsuccessful attempt to raise capital and a cash exodus from the startups that fueled its rise. California state watchdogs took possession of the bank, which was valued at more than $40 billion as recently as last year.
“As you are surely already aware, Silicon Valley Bank was put into receivership on Friday, and its assets were transferred to the Federal Deposit Insurance Corp,.,” Moffett and Nathanson said in the message. “We hope you are also aware, however, that our parent company, SVB Securities Holdings, was and is a separate entity that is not directly impacted by the events at the bank.”
