SoFi Technologies Announces $1.5 Billion Stock Offering, Shares Drop 6%
SoFi Technologies unveiled plans for a $1.5 billion common stock offering, triggering a nearly 6% decline in after-hours trading. The fintech's shares had closed up 1.8% at $29.60 during regular session before retreating below $28 on the dilution news.
Goldman Sachs leads the underwriting syndicate, joined by BofA Securities, Citigroup, Deutsche Bank, and Mizuho. Proceeds will bolster corporate purposes including capital enhancement and growth initiatives—a strategic MOVE following SoFi's 38% Q3 revenue surge and doubled net income.
The offering contrasts with SoFi's stellar 2025 performance, with shares nearly doubling this year and soaring sixfold since 2022's close. Market reaction reflects typical dilution pressures, though the fintech's fundamental trajectory remains upward.
