Stock Track | SoFi Technologies Plunges 6.55% in Pre-Market on $1.5 Billion Stock Offering and General Counsel Retirement

Stock Track12-05 17:04

SoFi Technologies Inc. (SOFI) saw its stock plummet 6.55% in pre-market trading following the announcement of a $1.5 billion underwritten public offering of its common stock. The offering, which includes an option for underwriters to purchase an additional 15% of shares, is expected to dilute existing shareholders.

The company plans to use the proceeds for general corporate purposes, including enhancing its capital position and funding growth opportunities. Additionally, the retirement of General Counsel Stephen Simcock, effective December 31, 2025, has raised concerns among investors about leadership stability.

These developments have contributed to the sharp decline in pre-market trading, as investors react to the potential dilution and executive departure.

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