SoFi stock drops on $1.5 billion stock offering
SoFi CEO Anthony Noto at the annual Allen & Co. event in Sun Valley, Idaho, on July 10, 2025. He speaks to CNBC at the Media and Technology Conference.
David A. Grogan | CNBC
SoFi shares fell nearly 6% in extended trading Thursday after the fintech company announced a $1.5 billion stock offering.
The company, which provides online loans and other banking services, said in a statement: Press release It said it would use the proceeds “for general corporate purposes, including but not limited to improving capital position, increasing discretionary and making capital management more efficient, and financing increased growth and business opportunities.”
The announced offer comes after SoFi’s market value nearly doubled in 2025. The stock price has increased more than sixfold since the end of 2022.
A company’s share price often falls in a planned share sale because the offer dilutes the value of existing owners’ shares.
In the third quarter earnings release In late October, SoFi reported that its revenue rose 38% year over year to $961.6 million, while net income more than doubled to $139.4 million. The company reported cash and equivalents of $3.25 billion.
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