SAFEGUARD PROVIDES SUMMARY IMPACT ASSESSMENT FOLLOWING FDIC’S ACTIONS RELATING TO SILICON VALLEY BANK’S RECEIVERSHIP

March 13, 2023

https://www.globenewswire.com/news-release/2023/03/13/2625968/0/en/SAFEGUARD-PROVIDES-SUMMARY-IMPACT-ASSESSMENT-FOLLOWING-FDIC-S-ACTIONS-RELATING-TO-SILICON-VALLEY-BANK-S-RECEIVERSHIP.html

RADNOR, Pa., March 13, 2023 (GLOBE NEWSWIRE) — Safeguard Scientifics, Inc. (NASDAQ:SFE) (“Safeguard” or the “Company”) is providing the following summary assessment of the initial impact of Silicon Valley Bank’s closing on Friday March 10, 2023 by the California Department of Financial Protection and Innovation, which appointed the Federal Deposit Insurance Corporation (“FDIC”) as receiver, and the subsequent announcement on March 12, 2023, whereby the FDIC will complete its resolution of Silicon Valley Bank, Santa Clara, California, in a manner that fully protects all depositors

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