Sofi Stock Drops After $1.5 Billion Offering

Benzinga

SoFi dropped almost 6% after unveiling a $1.5B stock offering that will boost capital and fund future growth, but also dilutes existing shareholders. The pullback follows a major multiyear rally driven by strong revenue and profit gains.

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00:00It's Benzinga, bringing Wall Street to Main Street.

00:03SoFi shares fell nearly 6% in extended trading after the company announced

00:07a $1.5 billion stock offering, according to CNBC.

00:11SoFi said the proceeds will support capital strength,

00:15add flexibility in capital management, and fund future growth initiatives.

00:19The decline followed an early 2025 rally that nearly doubled the company's market value

00:24and lifted the stock more than six-fold since 2022.

00:28Planned share sales, often pressure stocks because new shares dilute existing holders.

00:34In October, SoFi reported third-quarter revenue of $961.6 million,

00:39up 38% from last year, and net income of $139.4 million.

00:45The company reported cash and equivalents of $3.25 billion.

00:49For all things money, visit Benzinga.com.

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