with SVB, requiring the maker of products for managing diabetes to maintain its accounts at the bank and to transfer cash held elsewhere within 90 days of the contract.
Dexcom's agreement with SVB also required the company to open a lockbox and maintain the "majority" of the company's securities accounts with the bank.with Hyperion Therapeutics, a drugmaker that was acquired in 2015 for $1.1 billion by Horizon Pharma. Hyperion was required to bank only with SVB, but notably did not have to give the firm control over any accounts it used for "payroll, payroll taxes, and other employee wage and benefit payments."
Representatives from Upstart, DocuSign, Sprout Social, Edgio, Dexcom and Horizon didn't immediately respond to requests for comment.
The clients in question are not very sophisticated business people. The same can be said of any VCs or others that pressured them into such an arrangement.
Now do Covid Vaccines. People who didnt get covid vaccines were unable to……
And those companies couldnt of gotten financing with any other bank. They were. Part of the zero interest rates delusion
Finance Finance Latest News, Finance Finance Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: WSJ - 🏆 98. / 63 Read more »
Source: mercnews - 🏆 88. / 68 Read more »