SoFi Technologies slides on $1.5 billion share sale announcement at $27.50 a share
SoFi Technologies announced a $1.5 billion public stock offering at $27.50 per share, a 7% discount from the previous closing price. The offering includes an option for underwriters to buy additional shares, closing on December 8th. Proceeds will fund general corporate purposes and growth opportunities. Despite a recent stock surge, SoFi's shares fell over 7% following the announcement. The company has expanded beyond lending into trading, wealth management, and more, recently launching a crypto trading waitlist.
SoFi Technologies is down more than 7% in early trading on Friday after the company revealed plans to raise $1.5 billion through a public stock offering, with shares to be priced at $27.50 each — a discount of roughly 7% from Thursday's closing price of $29.60.
The offering includes a 30-day option for the underwriters to purchase up to an additional 8,181,818 shares, equivalent to an additional 15% of the nominal offering, which is expected to close December 8th.
Proceeds from the offering will go toward "general corporate purposes," SoFi said, including "enhancing capital position, increasing optionality and enabling further efficiency of capital management, and funding incremental growth and business opportunities."
The sale comes as SoFi's stock has been on a tear this year — nearly doubling (up 97%) in 2025 before this morning's slump. The company also posted better-than-expected Q3 sales and profits back in October, driven by growth outside its original lending business, including trading, wealth management, mortgages, and credit cards.
CEO Anthony Noto has repeatedly emphasized SoFi's push beyond lending. In November, the company launched a priority waitlist for SoFi Crypto, enabling users to trade dozens of cryptocurrencies, including Bitcoin, Ethereum, and Solana.
The stock is hovering around the offering price of $27.50 on Friday.
