Earlier this week, a container ship weighing over 200,000 tons became lodged in the Suez Canal. Authorities say it may take weeks to remove the ship.
Read moreSAN FRANCISCO‐March 26, 2021‐SoFi announced today that it will be offering its members the ability to invest in IPOs for companies going public, an investment opportunity that has traditionally been reserved for large institutional investors or ultra-high-net-worth individuals. In a continuing effort to break down barriers to investing, SoFi anticipates offering several initial public offering securities in the coming months available to SoFi Invest members through the SoFi app.
“Our mission at SoFi is to help people achieve financial independence to realize their ambitions,” said Anthony Noto, CEO of SoFi. “If you’re going to achieve your financial goals, having access to a broad range of diversified investment opportunities is imperative, and gaining access to primary offerings is another way to diversify your portfolio that has previously been restricted to a select few. IPO Investing reflects our continued effort to make investing more accessible, by pioneering fractional shares, offering commission-free trading, creating unique SoFi-branded ETFs, and now, IPO investing.”
Our unique IPO product offering will be available to anyone who opens or has a SoFi Active Invest account and has at least $3,000 in total account value across all of SoFi Invest (inclusive of automated and active investing). SoFi recognizes that investing in IPOs is inherently risky and we are committed to clearly disclosing the risks and benefits associated with this type of investment opportunity. To find out more information, learn more about IPO investing at www.sofi.com/invest/ipo-investing.
SoFi Invest offers innovative investment tools to help members get their money right at every stage of their financial lives, from automated investing to commission-free active stock trading, fractional-share trading, cryptocurrency, and the industry’s first zero-fee ETFs. With support for instant account funding, members need not delay taking the next steps in their investment journey. SoFi Invest’s product offerings are frequently recognized for their excellence in selection, speed, and convenience by numerous outlets ranging from BuzzFeed to Investopedia.
###
About SoFi
SoFi helps people achieve financial independence to realize their ambitions. Our products for borrowing, saving, spending, investing and protecting give our over 1.8 million members fast access to tools to get their money right. SoFi membership comes with the key essentials for getting ahead, including career advisors and connection to a thriving community of like-minded, ambitious people. SoFi is also the naming rights partner of SoFi Stadium, home of the Los Angeles Chargers and the Los Angeles Rams. For more information, visit SoFi.com or download our iOS and Android apps.
Media Contact
Rachel Rosenzweig
Senior Director, Communications and Policy
Exchange Traded Funds (ETFs): Investors should carefully consider the information contained in the prospectus, which contains the Fund’s investment objectives, risks, charges, expenses, and other relevant information. You may obtain a prospectus from the Fund company’s website or chat with us https://sofi.app.link/investchat. Please read the prospectus carefully prior to investing.
If you invest in Exchange Traded Funds (ETFs) through SoFi Invest (either by buying them yourself or via investing in SoFi Invest’s automated investments, formerly SoFi Wealth), these funds will have their own management fees. These fees are not paid directly by you, but rather by the fund itself, these fees do reduce the fund’s returns. Check out each fund’s prospectus for details. SoFi Invest does not receive sales commissions, 12b-1 fees, or other fees from ETFs for investing such funds on behalf of advisory clients, though if SoFi Invest creates its own funds, it could earn management fees there.
SoFi Invest may waive all, or part of any of these fees, permanently or for a period of time, at its sole discretion for any reason. Fees are subject to change at any time. The current fee schedule will always be available in your Account Documents section of SoFi Invest.
Investing in an Initial Public Offering (IPO) involves substantial risk, including the risk of loss. Further, there are a variety of risk factors to consider when investing in an IPO, including but not limited to, unproven management, significant debt, and lack of operating history. For a comprehensive discussion of these risks please refer to SoFi Securities’ IPO Risk Disclosure Statement (https://www.sofi.com/iporisk/). IPOs offered through SoFi Securities are not a recommendation and investors should carefully read the offering prospectus to determine whether an offering is consistent with their investment objectives, risk tolerance, and financial situation.
New offerings generally have high demand and there are a limited number of shares available for distribution to participants. Many customers may not be allocated shares and share allocations may be significantly smaller than the shares requested in the customer’s initial offer (Indication of Interest). For SoFi’s allocation procedures please refer to IPO Allocation Procedures.
SoFi Invest refers to the three investment and trading platforms operated by Social Finance, LLC and its affiliates (described below). Individual customer accounts may be subject to the terms applicable to one or more of the platforms below.
1) Automated Investing and advisory services are provided by SoFi Wealth LLC, an SEC-Registered Investment Adviser (“Sofi Wealth“). Brokerage services are provided to SoFi Wealth LLC by SoFi Securities LLC.
2) Active Investing and brokerage services are provided by SoFi Securities LLC, Member FINRA(www.finra.org)/SIPC(www.sipc.org), (“Sofi Securities). Clearing and custody of all securities are provided by APEX Clearing Corporation.
3) Cryptocurrency is offered by SoFi Digital Assets, LLC, a FinCEN registered Money Service Business.
For additional disclosures related to the SoFi Invest platforms described above, including state licensure of Sofi Digital Assets, LLC, please visit www.sofi.com/legal.
Read more
We’re thrilled to announce today that we will soon be offering our members an opportunity that has been previously reserved for institutional investors and ultra-high-net-worth individuals: the ability to invest in IPOs prior to their debuts on major stock exchanges!
At SoFi, we feel strongly in breaking down the barriers to investing, and giving even more people access to the financial tools to realize their ambitions and achieve financial independence. Access to primary offerings through IPO Investing is our next huge step in that direction, and we’re excited to see what you think of this unique feature. We anticipate offering several securities on the new platform in the coming months.
This feature will be available to anyone who opens or has a SoFi Active Invest account and has at least $3,000 in total account value across all of SoFi Invest (inclusive of automated and active investing). To find out more, visit our IPO investing page at www.sofi.com/invest/ipo-investing.
Or, visit sofi.com/invest to check out more of our offerings, including fractional shares, commission-free trading, SoFi-branded ETFs.
Exchange Traded Funds (ETFs): Investors should carefully consider the information contained in the prospectus, which contains the Fund’s investment objectives, risks, charges, expenses, and other relevant information. You may obtain a prospectus from the Fund company’s website or chat with us https://sofi.app.link/investchat. Please read the prospectus carefully prior to investing.
If you invest in Exchange Traded Funds (ETFs) through SoFi Invest (either by buying them yourself or via investing in SoFi Invest’s automated investments, formerly SoFi Wealth), these funds will have their own management fees. These fees are not paid directly by you, but rather by the fund itself, these fees do reduce the fund’s returns.. Check out each fund’s prospectus for details. SoFi Invest does not receive sales commissions, 12b-1 fees, or other fees from ETFs for investing such funds on behalf of advisory clients, though if SoFi Invest creates its own funds, it could earn management fees there.
SoFi Invest may waive all, or part of any of these fees, permanently or for a period of time, at its sole discretion for any reason. Fees are subject to change at any time. The current fee schedule will always be available in your Account Documents section of SoFi Invest.
Investing in an Initial Public Offering (IPO) involves substantial risk, including the risk of loss. Further, there are a variety of risk factors to consider when investing in an IPO, including but not limited to, unproven management, significant debt, and lack of operating history. For a comprehensive discussion of these risks please refer to SoFi Securities’ IPO Risk Disclosure Statement (https://www.sofi.com/iporisk/) IPOs offered through SoFi Securities are not a recommendation and investors should carefully read the offering prospectus to determine whether an offering is consistent with their investment objectives, risk tolerance, and financial situation.
New offerings generally have high demand and there are a limited number of shares available for distribution to participants. Many customers may not be allocated shares and share allocations may be significantly smaller than the shares requested in the customer’s initial offer (Indication of Interest). For SoFi’s allocation procedures please refer to IPO Allocation Procedures.
SoFi Invest refers to the three investment and trading platforms operated by Social Finance, LLC and its affiliates (described below). Individual customer accounts may be subject to the terms applicable to one or more of the platforms below.
1) Automated Investing and advisory services are provided by SoFi Wealth LLC, an SEC-Registered Investment Adviser (“Sofi Wealth“). Brokerage services are provided to SoFi Wealth LLC by SoFi Securities LLC.
2) Active Investing and brokerage services are provided by SoFi Securities LLC, Member FINRA(www.finra.org)/SIPC(www.sipc.org), (“Sofi Securities). Clearing and custody of all securities are provided by APEX Clearing Corporation.
3) Cryptocurrency is offered by SoFi Digital Assets, LLC, a FinCEN registered Money Service Business.
For additional disclosures related to the SoFi Invest platforms described above, including state licensure of Sofi Digital Assets, LLC, please visit www.sofi.com/legal.
Read more
Active Investing members can participate in IPO(s)
before they trade on an exchange.
Invest now
Investing in an Initial Public Offering (IPO) involves substantial risk, including the risk of loss. For a comprehensive discussion of these risks please refer to SoFi Securities’ IPO Risk Disclosure Statement.
Any SoFi member with an Active Investing account is eligible to participate with no minimums.
Select the IPOs you’d like to participate in and submit an indication of interest (IOI).
After your IOI is submitted, you’ll be notified to confirm your buy order to secure your shares when the transaction settles.
Traditionally, access to IPOs before they’re traded on the public market has been reserved for large institutional investors. Now SoFi members can participate in IPOs with no account minimum.
Invest now
Everything you never thought you needed to know about IPOs, investing, and a whole lot more.
First, go to ‘IPO Investing’ in the Invest tab of the SoFi mobile app or website and learn about IPOs and the current offerings. Next, select an IPO. Then you’ll need to enter your indication of interest, which lets us know how many shares/units you’re interested in buying. Indications of interest are not considered binding orders because they are made before the prospectus is deemed effective by the SEC. An indication of interest is similar to making a reservation – you are holding your place in line and will be contacted by SoFi to confirm your intent once the deal is live and firm orders can be received. SoFi will alert you when it’s time to confirm your buy order. You will only have a short period of time to confirm your buy order so make sure to do so as soon as possible.
Note: eligible members are able to participate in multiple IPOs, but can only select one at a time as each IPO is unique and carries its own terms, conditions, and risks.
SoFi Active Investing members can invest in IPOs with no account minimums.
Money in your SoFi Money® cash management account is separate from money in your SoFi Invest accounts. If you have SoFi Money, you can instantly transfer up to $50,000 to a SoFi Active Invest account here.
SoFi Invest provides $5,000 of instant funding for external accounts and $50,000 for SoFi Money accounts. If you would like to purchase greater than $5,000/$50,000 from the respective linked accounts, funds must settle before the order date.
Members are able to sell securities obtained during an IPO whenever they would like. SoFi does not restrict the sale of securities on the secondary market. However, if a members sells within the first 30 calendar days post-IPO, that member will be limited in their ability to participate in future IPOs through SoFi for a defined period of time as outlined below:
Members that have obtained shares/units of an IPO through SoFi and sell within the first 30 days post-IPO are considered “flippers” and may be prevented from participating in future IPOs for 180 days upon a first violation, 365 days upon a second violation, and permanently in the event of a third violation.
In addition, SoFi may charge a fee for the sales of securities obtained through the IPO process if the sales take place prior to the 120th day of trading.
SoFi takes several factors into consideration when allocating shares to members, including, but not limited to:
SoFi reserves the right to make changes to its allocation procedure at any time, without advance notice.
As referenced in the FAQ “What is an indication of interest?”, an IOI is not a binding order because the prospectus has not yet been finalized. Binding orders may only be placed once the registration process concludes and the prospectus is finalized. Therefore, if you placed a non-binding indication of interest you will need to confirm your intent to proceed with the purchase now that you have access to the final terms of the deal, as outlined in the final prospectus, which can be found under “IPO investing’ in the Invest tab of the SoFi mobile app or website. Members who don’t confirm their indications of interest are not eligible to receive an allocation of shares.
Please note, even though you confirm your order, you are not guaranteed an allocation of shares/units. Please see the FAQ “What happens if a deal is oversubscribed?” for more information.
You can find out about new IPO announcements, as well as other news and information, under ‘IPO Investing’ in the Invest tab of the SoFi mobile app or website. Make sure your email and notification alerts are enabled.
See all FAQs
Read more
Stay up to date on the latest business news and stock market happenings.
