ITEM 3.01 NOTICE OF DELISTING OR FAILURE TO SATISFY A CONTINUED LISTING RULE OR STANDARD; TRANSFER OF LISTING
On
If the NYSE determines that an additional six-month trading period is not appropriate, suspension and delisting procedures will commence pursuant to Section 804.00 of the NYSE Listed Company Manual. If the NYSE determines that an additional trading period of up to six months is appropriate and the Company fails to file its 10-K and any subsequent delayed filings by the end of that period, suspension and delisting procedures will generally commence. Regardless of the procedures described above, the NYSE may commence delisting proceedings at any time during the period that is available to complete the filing, if circumstances warrant.
The notice has no immediate impact on the listing of the Company's securities, which will continue to be listed and traded on the NYSE during this period, subject to the Company's compliance with other listing standards, under the symbols "SI" and "SI PRA" with an "LF" indicator.
The Company issued a press release on
ITEM 5.02 DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS.
On
On
Forward-Looking Statements
This filing contains forward-looking statements within the meaning of the Securities Exchange Act of 1934, as amended. These forward-looking statements reflect our current views with respect to, among other things, future events and our financial performance. These forward-looking statements are not historical facts, and are based on current expectations, estimates and projections about our industry and management's beliefs and certain assumptions made by management, many of which, by their nature, are inherently uncertain and beyond
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our control. There are or will be important factors that could cause the
Company's actual results to differ materially from those indicated in these
forward-looking statements, including, but not limited to, the following: the
ability of the Company to wind down the Bank's operations and liquidate the Bank
in an orderly and timely manner and to fully repay customers with deposits; the
Company's ability to successfully resolve claims and preserve any residual value
of its assets; the Company's or the Bank's ability to obtain applicable
regulatory or governmental approvals relating to the wind down and liquidation
process; the Company's ability to comply with the heightened regulatory scrutiny
of banking institutions that provide products and services to the digital asset
industry; risks and uncertainties, including potential liability and
restrictions on the Company's historical business, resulting from various
litigation (including private litigation) and regulatory and other inquiries and
investigations against or with respect to the Company, investigations from our
banking regulators, congressional inquiries and investigations from the
The foregoing factors should not be construed as exhaustive and should be read
together with the other cautionary statements included in this filing, as well
as the cautionary statements and other risk factors set forth in the Company's
Annual Report on Form 10-K for the year ended
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.
(d) Exhibits. Exhibit Number Description 99.1 Press release dated March 20 , 2023 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 3
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