SoFi prices $1.5 billion stock offering at $20.85 per share

SoFi Technologies Inc. (NASDAQ: SOFI) announced it has priced an underwritten public offering of 71,942,450 shares of common stock at $20.85 per share, generating gross proceeds of approximately $1.5 billion before underwriting discounts and expenses.

The financial services company has granted underwriters a 30-day option to purchase up to an additional 10,791,367 shares at the same price, less underwriting discounts and commissions. The offering is expected to close on July 31, 2025, subject to customary closing conditions.

SoFi plans to use the net proceeds for general corporate purposes, including working capital and other business opportunities. All shares in the offering will be sold by the company.

Goldman Sachs & Co. LLC, Citigroup and Mizuho Securities USA LLC will serve as underwriters for the offering. The offering is being conducted under an automatic shelf registration statement on Form S-3 that became effective upon filing with the Securities and Exchange Commission on July 29, 2025.

The San Francisco-based company operates as a digital financial services platform serving over 11.7 million members who use its services to borrow, save, spend, invest and manage money through a single application. SoFi also provides its technology platform Galileo to financial institutions and brands managing 160 million global accounts.

Information in this article is based on a company press release.

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