SoFi Technologies has announced plans to raise $1.5 billion through a public offering of shares, priced between $27.50 and $28.50 each. This represents a discount of up to 7.1% from the previous closing price of $29.60. The funds will be used to bolster SoFi's capital structure and explore new business opportunities. Following the announcement, SoFi's stock price dropped 5.8% to $27.89 in after-hours trading. The company has been expanding its non-lending businesses, including cryptocurrencies, and reported a record revenue of $950 million in the third quarter.