SoFi Technologies Inc. (SOFI) saw its stock plummet 5% in after-hours trading following two significant announcements: a $1.5 billion public offering of common stock and the retirement of its General Counsel, Stephen Simcock.
The public offering, which dilutes existing shareholders, combined with the unexpected departure of a key executive, has raised concerns among investors about the company's near-term stability and financial strategy. These developments likely contributed to the sharp decline in after-hours trading.
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