Upstart Files 8-K - Prepays $16M to SVB

Investment Analysis Clubs Saul’s Investing Discussions
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After the market closed today Upstart filed an 8-K with the SEC. It states that the company has prepaid a $16 million loan from Silicon Valley Bank. This action terminates the loan from SVB.

This does not seem like a big deal as the company had $336.1 million in cash on the balance sheet in the just completed quarter.

In an unrelated matter it also provides the outcome of votes from the annual shareholder meeting.

https://ir.upstart.com/static-files/a820e085-80e5-4cf6-b370-…

Frank - long UPST, see profile for all holdings

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Their AI software must have told them they were getting a raw deal from SVB :wink:

Don’t mean to be calling anyone out (general reminders don’t seem to work), but before we post anything, please consider if it adds value to our discussion on companies.

Thanks all,
Cedric
Asst. Board Manager

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