---
schema_version: "secwatch.filing_event.v1"
accession: "0001818874-24-000045"
form_type: "8-K"
ticker: "SOFI"
cik: "0001818874"
company_name: "SoFi Technologies, Inc."
filed_at: "2024-03-08T23:59:59+00:00"
generated_at: "2026-06-05T00:41:55.480506+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# SoFi closes $862.5M convertible notes offering at 1.25%, exchanges $600M of 2026 notes

## Summary
- Issued $862.5M in 1.25% convertible senior notes due 2029; net proceeds ~$845.3M.
- Initial conversion price ~$9.45 per share (conversion rate 105.8089 shares per $1,000 note).
- Exchanged $600M of existing 0% 2026 notes for ~61.7M shares of common stock.
- Entered capped call transactions with initial cap price $14.54 to offset dilution.
- Capped call counterparties may unwind hedges, impacting stock price.

## SEC filing metadata
- accession: 0001818874-24-000045
- form_type: 8-K
- ticker: SOFI
- cik: 0001818874
- company_name: SoFi Technologies, Inc.
- filed_at: 2024-03-08T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1818874/000181887424000045/0001818874-24-000045-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1818874/000181887424000045/sofi-20240304.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001818874-24-000045
- JSON: https://secwatch.observer/filing/0001818874-24-000045.json
- Plain text: https://secwatch.observer/filing/0001818874-24-000045.txt

## Key facts
- Debt Financings
  SoFi Technologies, Inc. incurred convertible notes of $862.5 million with U.S. Bank Trust Company, National Association at 1.25% maturing March 15, 2029.
  - Instrument: convertible notes
  - Principal: $862.5 million
  - Counterparty: U.S. Bank Trust Company, National Association
  - Rate: 1.25%
  - Maturity: March 15, 2029
  - Event: incurrence
  source text: On March 8, 2024, SoFi Technologies, Inc. (“SoFi” or the “Company”) closed its previously announced private offering of convertible senior notes due 2029 (the “notes”) in an aggregate principal amount of $862.5 million.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1818874/000181887424000045/0001818874-24-000045-index.htm
- Material Agreements
  SoFi Technologies, Inc. entered into Indenture with U.S. Bank Trust Company, National Association (effective 2024-03-08).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: U.S. Bank Trust Company, National Association
  - Effective: 2024-03-08
  source text: The notes were issued pursuant to, and are governed by, an indenture (the “Indenture”), dated as of March 8, 2024, between the Company and U.S. Bank Trust Company, National Association, as trustee
  evidence_url: https://www.sec.gov/Archives/edgar/data/1818874/000181887424000045/0001818874-24-000045-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.