SOFI Stock: SoFi Is Selling $750 Million in Convertible Senior Notes

SoFi (NASDAQ:SOFI) stock is taking a tumble after the company announced a private offering of $750 million in convertible senior notes due in 2029. The initial purchasers of the note, which are limited to qualified institutional investors, will have an option to purchase an additional $112.5 million of the notes.“The notes will be unsecured, unsubordinated obligations of SoFi, will accrue interest payable semi-annually in arrears and will mature on March 15, 2029, unless earlier repurchased, redeemed or con ...