SoFi prices $750M convertible notes due 2029 at 1.25%; exchange of $600M 2026 notes for stock

SoFi Technologies, Inc.

SoFi priced $750M of 1.25% convertible senior notes due 2029; initial purchasers can buy up to an additional $112.5M.
Initial conversion price ~$9.45/share (30% premium over $7.27 closing price on March 5, 2024).
Net proceeds ~$735M ($845.3M if greenshoe fully exercised); ~$78.8M to fund capped call transactions.
Remaining proceeds to redeem 12.5% Series 1 Preferred Stock and for general corporate purposes, including repaying higher-cost debt.
SoFi exchanged $600M of 0% 2026 notes for ~61.7M shares; terminated a portion of existing capped calls.

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