Anthony Noto, CEO of SoFi, speaking with CNBC astatine the yearly Allen & Co. Media and Technology Conference successful Sun Valley, Idaho connected July 10th, 2025.
David A. Grogan | CNBC
SoFi shares fell astir 6% successful extended trading Thursday aft the fintech institution announced a $1.5 cardinal banal offering.
The company, which provides online loans and different banking services, said successful a press release that it volition usage the proceeds for "general firm purposes, including but not constricted to enhancing superior position, expanding optionality and enabling further ratio of superior management, and backing incremental maturation and concern opportunities."
The announced offering comes aft SoFi's marketplace headdress astir doubled truthful acold successful 2025. The banal terms is up much than sixfold since the extremity of 2022.
A company's stock terms often drops connected a planned stock merchantability arsenic the offering dilutes the worth of existing holders' stakes.
In its third-quarter earnings release successful precocious October, SoFi reported gross maturation of 38% from a twelvemonth earlier to $961.6 million, portion nett income much than doubled to $139.4 million. The institution reported currency and equivalents of $3.25 billion.
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