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.

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,

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.