SoFi Technologies stock dips after offering $1.1B of convertible notes
Oct. 04, 2021 12:56 PM ETSoFi Technologies, Inc. (SOFI)By: Liz Kiesche, SA News Editor16 Comments
- 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