SoFi Technologies shares are trading lower after the company announced a proposed $750 million convertible senior notes offering due 2029.
Portfolio Pulse from Benzinga Newsdesk
SoFi Technologies announced a proposed $750 million convertible senior notes offering due 2029, leading to a decrease in its share price.
March 05, 2024 | 1:51 pm
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SoFi Technologies' share price decreased following the announcement of a $750 million convertible senior notes offering due 2029.
Convertible senior notes offerings can dilute existing shareholders' equity and often lead to a decrease in share price due to the potential for conversion into equity at a future date. The size of the offering, $750 million, is significant and likely contributed to the negative market reaction.
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