SoFi Slumps on Plan To Sell Up To $862.5 Million in Convertible Bonds

Key TakeawaysShares of SoFi Technologies tumbled 13% Tuesday, after it said it was planning to sell up to $862.5 million in convertible bonds.The online financial services company will offer $750 million in convertible senior notes due March 2029, and buyers will have an option to purchase $112.5 million more.SoFi said it will use part of the proceeds to pay for capped call transactions to limit the dilution to shareholders of the convertible bond offering. Shares of SoFi Technologies (SOFI) tumbled 13% Tue ...