Summary by Futu AI
On March 5, 2024, SoFi Technologies, Inc. announced the pricing of a private offering of $750 million in convertible senior notes due in 2029, with an option for initial purchasers to buy an additional $112.5 million in notes. The offering, limited to qualified institutional buyers, is set to close on March 8, 2024, subject to standard closing conditions. The notes will bear interest at 1.25% per annum and mature on March 15, 2029, with the initial conversion rate set at 105.8089 shares of SoFi common stock per $1,000 principal amount of notes. SoFi also entered into capped call transactions to reduce potential dilution upon conversion of the notes. The net proceeds, estimated at $735 million or $845.3 million if the additional notes are purchased, will be used to fund the capped call transactions, redeem...Show More