Brief: Marchex Inc - Is Taking Immediate Steps To Recover All Of Its Account Balances From Svb But Has Not Yet Received These Funds

Marchex

13/03/2023 21:24

March 13 (Reuters) - Marchex Inc  MCHX.O :
    * MARCHEX INC - IS TAKING IMMEDIATE STEPS TO RECOVER ALL OF
ITS
ACCOUNT BALANCES FROM SVB BUT HAS NOT YET RECEIVED THESE FUNDS
    * MARCHEX INC - DO NOT BELIEVE THAT SVB RECEIVERSHIP WILL
RESULT
IN A MATERIAL ADVERSE IMPACT ON OUR BANK ACCOUNT BALANCE
    * MARCHEX INC - MAINTAINED A BANK ACCOUNT WITH SVB WITH A
CURRENT
BALANCE OF APPROXIMATELY $4.6 MILLION DOLLARS
    * MARCHEX - DO NOT BELIEVE THAT SVB RECEIVERSHIP WILL RESULT
IN
ADVERSE IMPACT ON ACCESS TO MONEY MARKET FUNDS HELD BY A THIRD
PARTY OR LIQUIDITY

Source text: [ID:https://tinyurl.com/346v4rr3]
Further company coverage:  MCHX.O 

 ((Reuters.Briefs@thomsonreuters.com;))