SoFi Technologies in San Francisco plans to raise $1.5 billion through a public offering.
The lending fintech said in a press release that it will let underwriters sell an additional 15% of shares if there is enough demand, which would boost the offering’s proceeds by $225 million.
SoFi plan to use the proceeds for general corporate purposes, such as enhancing its capital position, increasing optionality and enabling further efficiency of capital management, and funding growth and business opportunities.