SoFi CEO Anthony Noto spoke to CNBC at the annual Allen & Company Media & Technology Conference in Sun Valley, Idaho on July 10, 2025.
David A. Grogan | CNBC
SoFi stock fell about 6% in after-hours trading Thursday after the fintech company announced a $1.5 billion stock offering.
The company, which provides online loans and other banking services, said in a press release that it will use the proceeds for “general corporate purposes, including but not limited to strengthening our capital position, increasing selectivity, further streamlining our capital management, and financing growth and business opportunities.”
The announced acquisition comes as SoFi’s market capitalization nearly doubles by 2025. The stock price has increased more than six times since the end of 2022.
Planned stock sales often cause a company’s stock price to decline because it dilutes the value of existing holders’ shares.
In its third-quarter earnings call in late October, SoFi reported revenue increased 38% year-over-year to $961.6 million and net income more than doubled to $139.4 million. The company reported cash and cash equivalents of $3.25 billion.
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