Stock Track | SoFi Technologies Plunges 6.08% in Post-Market on $1.5 Billion Stock Offering Announcement

Stock Track12-05 09:03

SoFi Technologies Inc. (NASDAQ: SOFI) saw its shares plummet 6.08% in the post-market session on Thursday, following the announcement of a $1.5 billion underwritten public offering of its common stock.

The offering, which includes an option for underwriters to purchase an additional 15% of shares, is expected to dilute existing shareholders. Proceeds will be used for general corporate purposes, including enhancing capital position and funding growth opportunities. The news triggered a sell-off as investors reacted to the potential dilution.

Additionally, the company disclosed that General Counsel Stephen Simcock will retire on December 31, 2025, adding to investor concerns about leadership stability. The dual announcements contributed to the sharp decline in after-hours trading.

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