SoFi Announces Redemption of Series 1 Preferred Stock

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announced its intention to redeem all 3,234,000 shares of its Series 1 Redeemable Preferred Stock on May 29, 2024, at a price of approximately $105.1027 per share, totaling $339,902,260.27. The redemption is expected to save the company approximately $29.3 million in 2024 dividend payments.

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About SoFi Technologies Inc.

SoFi Technologies Inc. operates as a financial technology company primarily focused on offering a suite of financial products and services designed to meet the needs of both individual and institutional clients. It provides a digital platform that includes lending services, such as student loan refinancing, personal loans, and home loans. Additionally, SoFi offers investing and savings tools, digital banking services, including checking and savings accounts, as well as insurance products. The company's platform is renowned for its commitment to leveraging technology to streamline financial processes and enhance user experience. Targeting primarily a younger demographic, SoFi caters to customers seeking modern, mobile-first financial solutions. Aimed at disruptiveness within the traditional financial industry, SoFi operates in sectors like personal finance, student financing, and digital payments, contributing to increased accessibility and efficiency in financial transactions. Established in 2011 and headquartered in San Francisco, California, SoFi Technologies continues to influence the fintech landscape by integrating technological innovation with financial services.