SoFi shares fell almost 6% in extended trading Thursday after the fintech company announced a $1.5 billion stock offering.

The company, which provides online loans and other banking services, said in a press release that it will use the proceeds for “general corporate purposes, including but not limited to enhancing capital position, increasing optionality and enabling further efficiency of capital management, and funding incremental growth and business opportunities.”

The announced offering comes after SoFi’s market cap almost doubled so far in 2025. The stock price is up more than sixfold since the end of 2022.

A company’s share price often drops on a planned share sale as the offering dilutes the value of existing holders’ stakes.

In its third-quarter earnings release in late October, SoFi reported revenue growth of 38% from a year earlier to $961.6 million, while net income more than doubled to $139.4 million. The company reported cash and equivalents of $3.25 billion.

WATCH: SoFi CEO on launch of crypto trading

Apple’s general counsel, Kate Adams, and its vice president for environment, policy, and social initiatives, Lisa Jackson, are retiring from the company, the iPhone maker announced on Thursday.

Jennifer Newstead, Meta’s chief legal officer, will become Apple’s new general counsel in March, and Jackson’s government affairs staff will report to her starting late next year, Apple said.

The two executives, who both reported to Apple CEO Tim Cook, are the latest members of senior leadership to exit the company. In recent weeks, Apple’s head software designer said he was leaving to join Meta, while Apple said its AI chief was retiring, along with its chief operating officer.

Adams joined Apple from Honeywell and became general counsel in 2017, and oversaw legal matters including litigation, global security, and the company’s privacy initiatives. Under Adams, Apple grappled with rising antitrust scrutiny and regulation around the world, including major lawsuits in the U.S. over the iPhone App Store’s restrictions and fees.

Jackson joined Apple in 2013, and led the company’s diversity programs as well as much of its policy work in Washington, D.C. Before that, she spent four years as administrator of the U.S. Environmental Protection Agency, a position she was appointed to by President Barack Obama.

With her emphasis in areas like social justice and renewable energies, Jackson’s job lost relevance during the second Trump administration, which has publicly denounced diversity, equity and inclusion programs and slammed efforts to combat climate change.

Apple has faced increased tariffs from the Trump administration, and Cook has met with President Donald Trump several times to tout the company’s American manufacturing plans as part of an effort to influence policy.

Jackson was instrumental in Apple’s launch of its Racial Equity and Justice Initiative following the 2020 murder of George Floyd. She then helped expand the company’s equity and justice efforts to other countries, including the U.K., Mexico and New Zealand, according to a report published in 2023.

“At Apple, we pledge that our resolve will not fade,” Jackson wrote in a section of that report. “We won’t delay action. We will work, each and every day, on the urgent task of advancing equity.”

Jackson also worked on Apple’s environmental image. Her job “focused on reducing greenhouse gases, protecting air and water quality, preventing exposure to toxic contamination, and expanding outreach to communities on environmental issues,” according to her bio on the company’s website. She discussed Apple’s plans to become carbon neutral at iPhone launch events.

Jackson also accompanied Cook to several official functions in Washington, including state dinners.

Newstead, who will become Apple’s top lawyer, has overseen Meta’s legal and regulatory matters pertaining to its family of apps like Facebook, Instagram, WhatsApp since 2019. A Meta spokesperson said Newstead will be staying through the end of the year and that the company is actively searching for her replacement.

Prior to Meta, Newstead served as a Trump-appointed legal advisor at the State Department during the president’s first administration in 2019. 

Before that, she was a partner at Davis Polk & Wardwell and a general counsel of the White House Office of Management and Budget, among other roles in the U.S. government.

CNBC’s Jonathan Vanian contributed to this story.

WATCH: Apple AI chief steps down

Microsoft said Thursday that it will increase the prices of Office productivity software subscriptions for commercial and government clients on July 1.

The company’s Office applications, which include Word, Excel, PowerPoint and Outlook, have been facing increased competition in recent years from Google.

“We are continuously investing and innovating our platform for the future,” Nicole Herskowitz, corporate vice president for Microsoft 365 and Copilot, wrote in a blog post. “In the last year, we released more than 1,100 features across Microsoft 365, Security, Copilot, and SharePoint.” The new features have added value to the suites, she wrote.

Price hikes for commercial Office subscriptions have been infrequent. In 2022, Microsoft raised prices of its productivity bundles for the first time since launching the original Office 365 subscriptions in 2011. Microsoft changed the name of Office 365 to Microsoft 365 in 2020. In January, Microsoft announced a price hike for consumer Office bundles.

Microsoft offers Office 365 subscriptions for commercial use that include access to its productivity applications, along with higher-priced Microsoft 365 subscriptions that also include Windows operating system updates.

Here’s a breakdown of the commercial price changes:

• For small and medium-sized businesses, Microsoft 365 Business Basic will cost $7 per person per month, up from $6.
• Microsoft 365 Business Standard will be available for $14, up from $12.50.
• Microsoft 365 Business Premium will continue to cost $22.
• The entry-level Office 365 E1 offering for enterprises will still be sold for $10.
• Office 365 E3 will jump 13% to $26 from $23.
• The Microsoft 365 E3 package including Windows for enterprises will rise 8% to $39 from $36.
• The full-featured Microsoft 365 E5 will increase to $60 from $57.
• For front-line workers such as cashiers, Microsoft 365 F1 subscriptions will cost $3, up from $2.25.
• Microsoft 365 F3 will be available for $10, up from $8.

The U.S. Defense Department and other government clients will face similar percentage price increases.

The various subscriptions all exclude access to the $30 Microsoft 365 Copilot add-on that draws on generative artificial intelligence models. Some companies have started widely rolling out Copilot, while others have held off on expanding their deployments, CNBC reported last week.

In many cases, organizations receive discounts off of list prices, but Microsoft has cut back on direct volume deals for some types of customers.

Almost 43% of Microsoft’s $77.7 billion in fiscal first-quarter revenue came from its Productivity and Businesses Processes segment, which includes Office. In October, the company said revenue from Microsoft 365 commercial cloud services jumped 17%, while seats increased 6%, mainly from products targeting small and medium-sized businesses and front-line workers.

WATCH: Microsoft sees ‘huge’ challenge and great opportunity as global economy enters a new phase, president says