Fintech SoFi falls after unveiling $1.5 bln stock offering

Shares of fintech lender SoFi Technologies SOFI.O down 5.6% post-market to $27.94 after equity offering news

San Francisco-based SOFI announces $1.5 bln stock offering

It intends to use net proceeds for general purposes, including enhancing capital position, funding growth and business opportunities

Goldman Sachs, BofA, Citigroup, Deutsche Bank and Mizuho acting as underwriters

With ~1.2 bln shares outstanding, SOFI has ~$35 bln market cap

SOFI shares on Thurs closed up 1.8% at $29.60, up 92% YTD

Of 23 analysts covering SOFI, recommendation breakdown is 7 "strong buy" or "buy", 12 "hold" and 4 "sell" or "strong sell" ratings; median PT $27.25, per LSEG data