TechFlow news, December 5 — Fintech company SoFi Technologies announced Thursday its plan to raise $1.5 billion through a stock offering, aiming to expand its business beyond traditional lending into other financial product areas. The company is working with Goldman Sachs Group on this share issuance.
According to sources familiar with the matter, SoFi plans to price the shares in a range of $27.50 to $28.50, representing a discount of up to 7.1% compared to Thursday's closing price of $29.60. This pricing strategy could be intended to attract more investor participation.
Earlier, SoFi's CEO stated that the regulatory environment has fundamentally shifted and the company will restart its cryptocurrency business.
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