SoFi Technologies, Inc. (NASDAQ:SOFI) stock fell Friday after the company disclosed the pricing of its public offering of 54.5 million shares at $27.50 each.
Details
With this, the company plans to raise around $1.5 billion in gross proceeds before underwriting discounts, commissions, and other offering expenses.
SoFi also granted underwriters a 30-day option to buy up to 8.2 million additional shares at the offering price, excluding underwriting discounts and commissions.
The offering is expected to close on Dec. 8, 2025, subject to customary conditions.
SoFi said the net proceeds from the offering are aimed at enhancing its capital position, increasing optionality, enabling further efficiency of capital management and funding growth and business opportunities.
SoFi had approximately $3.25 billion in total cash and cash equivalents as of Sept. 30.
Recent Earnings
In October, SoFi reported third-quarter revenue of $949.63 million, beating analyst estimates of $886.17 million and adjusted earnings of 11 cents per share, beating estimates of 8 cents per share.
SoFi raised its full-year 2025 revenue guidance from $3.38 billion to $3.54 billion, versus estimates of $3.43 billion, and adjusted earnings forecast from 31 cents per share to 37 cents per share, versus estimates of 31 cents per share.
SOFI Price Action: SoFi Technologies shares were down 7.60% at $27.35 during premarket trading on Friday, according to Benzinga Pro data.
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