StaceyJulia
2021-10-08

The 8-K details the issuance and terms of the $1.2B convertible notes and is effective today for those private institutional investors funding the offering. The Capped Calls is a way to create a separate over-the-counter derivative transaction that synthetically increases the conversion price, but minimized dilution. It is named a Capped Call because the maximum profit or share price ($32.02 or twice the share price of $16.01 on 9/29 close).

The initial conversion price is $22.41/share sold in $1,000 notes, or 44.615 shares. When the note holders choose to exercise the notes, SOFI can choose the repayment method of cash, stock or a combination.$SoFi Technologies Inc.(SOFI)$

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