SoFi Technologies, Inc. completed a $1.5 billion underwritten public offering of 54,545,454 shares of common stock at $27.50 per share, with an option for underwriters to purchase an additional 8,181,818 shares at the same price. The offering, managed by Goldman Sachs & Co., BofA Securities, Citigroup, Deutsche Bank Securities, and Mizuho, is expected to close on December 8, 2025, subject to customary closing conditions.
The proceeds are earmarked to strengthen SoFi’s balance sheet, increase optionality, and fund incremental growth across its expanding portfolio of financial services. Management highlighted the need for capital to accelerate the launch of a revamped crypto trading platform, the rollout of blockchain‑enabled remittance services, and broader ecosystem initiatives that integrate banking, lending, investing, and digital‑asset offerings.
In Q3 2025, SoFi reported revenue of $961.6 million, up 38% year‑over‑year, and net income that more than doubled from the prior quarter. Membership grew to 12.6 million, while the number of active products reached 18.6 million, and the cross‑buy rate climbed to 40%. These results underscore the company’s ability to generate robust top‑line growth while expanding its product mix.
Investors reacted negatively to the announcement, citing dilution concerns and the offering price of $27.50, which is below the previous closing price of $29.60. The discount and the perception that the company is raising capital despite a strong balance sheet contributed to a cautious market stance.
CEO Anthony Noto emphasized that “the future of financial services is being reinvented through innovations in crypto, digital assets, and blockchain.” He added that the capital raise will enable SoFi to “think bigger, bolder, and more expansively” in response to consumer demand for integrated financial solutions.
The equity offering positions SoFi to maintain a robust capital base while pursuing high‑growth opportunities in emerging digital‑asset markets. The move also signals management’s confidence in the company’s long‑term strategy, even as it acknowledges the need for additional funding to sustain momentum in a competitive fintech landscape.
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