---
schema_version: "secwatch.filing_event.v1"
accession: "0001818874-24-000086"
form_type: "8-K"
ticker: "SOFI"
cik: "0001818874"
company_name: "SoFi Technologies, Inc."
filed_at: "2024-03-26T23:59:59+00:00"
generated_at: "2026-06-04T07:59:16.339458+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# SoFi exchanges $600M zero-coupon notes for equity; issues new 1.25% notes due 2029

## Summary
- Exchanged $600M of 0% convertible notes due 2026 for 72.6M shares of common stock, settled March 25-26, 2024.
- Pro forma total risk-based capital ratio increased from 15.3% to >17.3% (200+ bps) based on Q4 2023 data.
- Exchange expected to be accretive to GAAP net income in Q1 2024 with negligible EPS impact; accretive to tangible book value per share by 8-10%.
- Issued 1.25% convertible senior notes due 2029 and entered capped call transactions; proceeds to reduce higher-cost instruments.
- Annual interest and dividend expense savings of $40M-$60M from paying down 12.5% Series 1 Redeemable Preferred Stock.

## SEC filing metadata
- accession: 0001818874-24-000086
- form_type: 8-K
- ticker: SOFI
- cik: 0001818874
- company_name: SoFi Technologies, Inc.
- filed_at: 2024-03-26T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 7.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1818874/000181887424000086/0001818874-24-000086-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1818874/000181887424000086/sofi-20240325.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001818874-24-000086
- JSON: https://secwatch.observer/filing/0001818874-24-000086.json
- Plain text: https://secwatch.observer/filing/0001818874-24-000086.txt

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