SoFi Technologies stock dips after offering $1.1B of convertible notes

SoFi Technologies (NASDAQ:SOFI) shares fall 5.2% since the fintech announced a convertible debt offering last week.
In today's trading alone, the stock dips 1.8% in early afternoon trading.
On Sept. 29, the company boosted the size of its debt offering to $1.1B from $750M. The notes can be converted into SoFi (SOFI) shares on or after April 15, 2026 until the trading day preceding Oct. 15, 2026.
Shares of companies that issue convertible debt often decline as the conversion of the debt to shares would increase the number of shares outstanding, potentially diluting existing stockholders' stakes.
Previously (Sept. 29), SoFi Technologies prices $1.1B of convertible notes offering