Stem announces minimal exposure to Silicon Valley Bank

Stem (STEM) has issued the following statement on Silicon Valley Bank (SIVB) in response to investor questions: "While we are continuing to evaluate the situation, we estimate less than 5% of our cash and short-term investments could be impacted by the closure of the bank. We have no credit facilities or other financial relationships with SVB. Stem maintains its cash and short-term investments with a diverse group of large national financial institutions. We do not expect the closure to have any impact on our operations. We will continue to monitor the situation and any impact on Stem or our customers, partners, and suppliers."