Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers S > Headlines for SoFi Technologies Inc. > News item |
SoFi Technologies greenshoe exercise pushes offering to $1.2 billion
Chicago, Oct. 4 – SoFi Technologies Inc. announced that the initial purchasers of the company’s convertible bonds exercised their option to buy an additional $100 million of the notes, pursuant to the greenshoe option that was announced at pricing.
The option was exercised in full on Sept. 30, according to an 8-K filed with the Securities and Exchange Commission.
Net proceeds now stand at $1.176 billion.
The greenshoe had been downsized, as the initial sale of the notes was upsized, from $112.5 million.
As previously reported, SoFI sold an upsized $1.1 billion offering of five-year convertible notes after the market close on Wednesday at par with a coupon of 0% and an initial conversion premium of 40%, according to a company news release.
Pricing came at the rich end of price talk for a coupon of 0% to 0.5% and at the midpoint of talk for an initial conversion premium of 37.5% to 42.5%, according to a market source.
Citigroup Global Markets Inc., Goldman Sachs & Co. LLC and Allen & Co. LLC were bookrunners for the Rule 144A offering.
SoFi Technologies is a San Francisco-based online personal finance company.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.