Marchex maintained SVB account with $4.6M, recovered funds in full

In a regulatory filing, the company states: "Marchex reported that it maintained a bank account with SVB with a current balance of approximately $4.6 million dollars and an additional money market account which was managed by SVB Asset Management, a non-bank affiliate of SVB, with the account securities custodied at a non-affiliated third party custodian not related to SVB and with a current value of approximately $5.5 million dollars. Marchex further reported that it was taking immediate steps to recover all of its account balances from SVB but had not yet received these funds. Marchex can now report that it has received these funds in full."