The news follows a record-breaking second-quarter report for SoFi. The fintech posted earnings and revenue that exceeded Wall Street’s expectations and raised full-year guidance for the second time. Notably, second-quarter revenue rose 44% to $858 million, marking SoFi’s highest growth rate in more than two years.

On July 29, SoFi Technologies priced 71,942,450 new common shares at $20.85 apiece and gave underwriters a 30?day option to buy up to 10,791,367 more shares at the same rate. The deal closes on July 31,

SoFi Technologies Inc. dropped in late trading Tuesday, mostly wiping out earlier gains, after the provider of consumer financial services said it’s selling $1.5 billion of stock.