Fintech SoFi falls after unveiling $1.5 bln stock offering

SoFi Technologies

04/12/2025 21:47

Corrects 4th bullet to include additional underwriters

** Shares of fintech lender SoFi Technologies SOFI.O down 5.6% post-market to $27.94 after equity offering news

** San Francisco-based SOFI announces $1.5 bln stock offering

** It intends to use net proceeds for general purposes, including enhancing capital position, funding growth and business opportunities

** Goldman Sachs, BofA, Citigroup, Deutsche Bank and Mizuho acting as underwriters

** With ~1.2 bln shares outstanding, SOFI has ~$35 bln market cap

** SOFI shares on Thurs closed up 1.8% at $29.60, up 92% YTD

** Of 23 analysts covering SOFI, recommendation breakdown is 7 "strong buy" or "buy", 12 "hold" and 4 "sell" or "strong sell" ratings; median PT $27.25, per LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))