November 25, 2009 (FinancialWire) — SVB Financial Group (NASDAQ: SIVB) has closed a public offering of 7.8 million shares of its common stock at a public offering price of $38.50 per share. J.P. Morgan Securities (NYSE: JPM) and BofA Merrill Lynch (NYSE: MER) acted as the joint-bookrunning managers.

The company received net proceeds of approximately $286 million after deducting underwriting discounts and commissions and estimated offering expenses payable by the company.

California-based SVB Financial Group is a financial holding company that serves companies in the technology, life science, venture capital/private equity and premium wine industries.

The company operates through 27 offices in the U.S., as well as offices in China, India, Israel and the United Kingdom. Banking services are provided by Silicon Valley Bank. SVB Private Client Services is a division of Silicon Valley Bank.

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