SoFi Technologies Inc. (SOFI) stock soared 5.04% intraday on Friday.
The surge follows the company's announcement of a follow-on offering that raised approximately $3.3 billion through the issuance of new shares. The capital will be used to accelerate growth, drive innovation, and strengthen financial flexibility for expansion opportunities. The measures are seen as neutral for earnings per share but significantly increase book value per share.
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