- SoFi Technologies announced a $1.5 billion stock offering to support capital and growth plans.
- The company is giving underwriters a 30-day option to purchase up to an additional 15% of the shares offered.
- Funds will be used to strengthen the company’s capital position and fund future initiatives.
- The offering follows the launch of SoFi’s new retail cryptocurrency platform for customers.
- Shares declined about 3% in after-hours trading after the announcement.
SoFi Technologies announced plans to raise $1.5 billion through a common stock offering. The company stated that the proceeds will be used to reinforce its capital base and fund upcoming expansion efforts. The underwriter is expected to have a 30-day window to buy up to an additional 15% of the offered shares. This move comes after the recent rollout of a new retail cryptocurrency platform.
The stock offering, which involves all new shares issued directly by SoFi, triggered a drop in the company’s share price by around 3% during after-hours trading. SoFi outlined that the funds raised will go toward general corporate purposes, such as improving financial stability and increasing operational flexibility for future growth.
Recently, the company introduced a digital asset initiative, unveiling a platform that lets customers directly buy, sell, and hold cryptocurrencies like Bitcoin, Ethereum, and Solana. According to SoFi, internal data showed that 60% of its members who already own cryptocurrencies prefer trading through a licensed bank platform rather than a conventional crypto exchange, suggesting a strong demand for regulated services.
Previously, SoFi provided cryptocurrency trading through its brokerage service, but that option was discontinued two years ago as the company reassessed its digital asset strategy. The company aims to integrate blockchain and crypto solutions more deeply into its portfolio. Other major U.S. banks are also expanding their own digital asset initiatives since the passage of the GENIUS Act earlier this year.
On financial forums, retail investor sentiment remained bullish, with some traders debating the short-term nature of the price dip and the potential for long-term recovery. SoFi’s stock has risen 92% so far in 2025, reflecting significant interest ahead of the latest stock offering.
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