Insightful Word
  • Investing
  • Stock
  • Economy
  • Politics
  • Investing
  • Stock
  • Economy
  • Politics
No Result
View All Result
Insightful Word
No Result
View All Result
Home Stock

Silver Lake Sells 31.2 Million SoFi Shares, Stock Dips 2.7%

admin by admin
December 5, 2024
in Stock
0
Silver Lake Sells 31.2 Million SoFi Shares, Stock Dips 2.7%
0
SHARES
3
VIEWS
Share on FacebookShare on Twitter

On Thursday, shares of SoFi Technologies, Inc. (NASDAQ:SOFI) experienced a 2.7% decline in the morning trading session. The drop followed a series of transactions by Silver Lake Technology Associates IV, L.P. (“SLTA IV”) and related entities, which included selling blocks of shares, with one as large as 19 million shares.

The sales occurred between December 2, 2024, and December 4, 2024, with SLTA IV and its related entities offloading approximately 31.2 million shares. Prices for these transactions ranged from $15.90 to $16.13. These disposals were executed through various indirect ownerships held by Silver Lake entities, including Silver Lake Partners IV, L.P. and Silver Lake Technology Investors IV (Delaware II), L.P.

The largest single block sale took place on December 4, 2024, with 19,389,745 shares sold at an average price of $16.011. Following this transaction, the ownership stake was reduced to 4,320,831 shares held indirectly through Silver Lake Partners IV, L.P. Additionally, on the same day, 4,320,831 shares were sold at $16.13, bringing the indirect ownership through the same entity down to zero.

Silver Lake, through its various entities, has a significant relationship with SoFi Technologies, Inc., as it may be deemed a director by deputization. Michael Bingle, a director at SoFi and Vice Chairman of Silver Lake Group, L.L.C., holds shares and restricted stock units as part of the company’s non-employee director compensation policy. According to the policy, the proceeds from the sale of these securities are expected to be remitted to Silver Lake and/or its limited partners.

The sale of these shares by Silver Lake is notable due to the firm’s role as a major shareholder and its connection to SoFi’s board through Michael Bingle. The transactions were reported to the SEC, and Silver Lake has committed to providing detailed information about the sales upon request, including the number of shares sold at each price point within the reported ranges.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

This post appeared first on investing.com

Previous Post

Pirelli downgraded by Bernstein, Continental upgraded amid market shifts

Next Post

Brazil sees surge in Bitcoin ATMs as cryptocurrency adoption grows

admin

admin

Next Post
Brazil sees surge in Bitcoin ATMs as cryptocurrency adoption grows

Brazil sees surge in Bitcoin ATMs as cryptocurrency adoption grows

Trending News

MetaMask launches crypto debit card in Brazil, Colombia, and Mexico

MetaMask launches crypto debit card in Brazil, Colombia, and Mexico

December 19, 2024
How billionaire Caltagirone could influence Italy’s banking M&A wave

How billionaire Caltagirone could influence Italy’s banking M&A wave

March 17, 2025
Michael Burry loads up on Alibaba stock: should you buy it too?

Michael Burry loads up on Alibaba stock: should you buy it too?

November 16, 2024
Subscribe to Insightful Word


    Recent News

    China’s May export growth seen slowing to 5.0% amid trade uncertainty: Reuters poll

    China’s May export growth seen slowing to 5.0% amid trade uncertainty: Reuters poll

    June 6, 2025
    FTSE 100 Index shares of 2025: Rolls-Royce, Fresnillo, BAE, and more

    FTSE 100 Index shares of 2025: Rolls-Royce, Fresnillo, BAE, and more

    June 6, 2025
    Asian stocks end mixed: Hang Seng snaps winning streak, Nikkei jumps 0.5%

    Asian stocks end mixed: Hang Seng snaps winning streak, Nikkei jumps 0.5%

    June 6, 2025
    Starlink reportedly secures key licence in India, moves closer to launching services

    Starlink reportedly secures key licence in India, moves closer to launching services

    June 6, 2025

    Recent News

    China’s May export growth seen slowing to 5.0% amid trade uncertainty: Reuters poll

    China’s May export growth seen slowing to 5.0% amid trade uncertainty: Reuters poll

    June 6, 2025
    FTSE 100 Index shares of 2025: Rolls-Royce, Fresnillo, BAE, and more

    FTSE 100 Index shares of 2025: Rolls-Royce, Fresnillo, BAE, and more

    June 6, 2025

    Latest News

    • China’s May export growth seen slowing to 5.0% amid trade uncertainty: Reuters poll
    • FTSE 100 Index shares of 2025: Rolls-Royce, Fresnillo, BAE, and more
    • Asian stocks end mixed: Hang Seng snaps winning streak, Nikkei jumps 0.5%

    About Insightful Word

    • Contacts
    • Cookie Notice
    • Privacy Policy
    • Terms of Service
    • Trading tools
    • Contacts
    • Cookie Notice
    • Privacy Policy
    • Terms of Service
    • Trading tools

    Copyright © 2025 Insightfulword.com. All Rights Reserved.

    No Result
    View All Result
    • Investing
    • Stock
    • Economy
    • Politics

    Copyright © 2025 Insightfulword.com. All Rights Reserved.