SoFi discounted additional issuance of $1.5 billion, and stock price tumbled after hours!

Financial technology company SoFi Technologies (SOFI.US) is seeking to raise $1.5 billion through a stock offering to advance its diversification from lending business into other product areas. According to a statement on Thursday, the company is partnering with Goldman Sachs Group, Inc. for this stock offering. Sources familiar with the matter revealed that SoFi is offering its stock at a price ranging from $27.50 to $28.50 per share. This price range is at a discount of up to 7.1% from the Thursday closing price of $29.60. The statement indicates that SoFi plans to use the proceeds for purposes including strengthening its capital position and exploring new business opportunities. In after-hours trading, SoFi's stock fell by 5.8% to $27.89 per share. As of Thursday's closing, its stock price has increased by 92% this year. SoFi reported on October 28th that its third-quarter adjusted net revenue reached $9.496 billion, setting a historic record and exceeding analysts' expectations of $8.982 billion. CEO Anthony Noto stated at the time that the company's expansion into customer service beyond loans reflected in profitability, contributing to the record performance in the third quarter. In November, the company announced that users could join the waitlist for SoFi Crypto to get priority access, enabling them to trade dozens of cryptocurrencies.