Annual report pursuant to Section 13 and 15(d)

Subsequent Events

v3.22.4
Subsequent Events
12 Months Ended
Dec. 31, 2022
Subsequent Events [Abstract]  
Subsequent Events

(17) Subsequent Events

The Company considers events and transactions that occur after the balance sheet date but prior to the issuance of the consolidated financial statements for potential recognition and disclosure in the consolidated financial statements.

The Company has a banking relationship with SVB. On March 10, 2023, SVB was closed by the California Department of Financial Protection and Innovation, which appointed the FDIC as receiver. On March 12, 2023, the Federal Reserve Board approved actions enabling the FDIC to complete its resolution of SVB in a manner that fully protects all depositors. Based on the foregoing and the Company's analysis of the components of its relationship with SVB, the Company does not expect these events to have a material impact on the Company's consolidated financial statements.