Fintech SoFi drops on pricing $1.5 bln stock offering

Shares of fintech lender SoFi Technologies SOFI.O down 7.4% premarket at $27.42 after overnight $1.5 bln follow-on priced

San Francisco-based SOFI late Thurs said it sold ~54.5 mln shares at $27.50, a 7.1% discount to last sale

SOFI intends to use net proceeds for general purposes, including enhancing capital position, funding growth and business opportunities, per the statement

Goldman Sachs, BofA, Citigroup, Deutsche Bank and Mizuho are underwriters

Co has ~1.2 bln shares outstanding

SOFI last raised in equity in Jul after $1.5 bln stock offering priced at $20.85

Through Thurs close, SOFI shares 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