ASX-listed firms confirm SVB exposures

Mike Taylor

Managing Editor/Publisher, Financial Newswire

13 March 2023

A rash of announcements has hit the Australian Securities Exchange as largely technology-based companies reveal the level of their exposure to the collapse of Silicon Valley Bank.

Among the companies to report exposures are Siteminder, Red Bubble, Sezzle, Xero, Life360 and Visioneering Technologies.

The company to have declared the largest exposure so far has been SiteMinder which referenced cash holdings of up to $10 million and an undrawn US$20 million revolving credit facility.

By comparison, Redbubble said it had $1.7 million deposited with the bank, while Sezzle said it had US$1.2 million which represented less than 2% of the company’s cash and cash equivalent balance.