Social Finance put out a press release May 29 announcing they have closed over $500 million in equity financing led by Qatar Investment Authority (QIA). The Delaware filing uncovered by the Prime Unicorn Index shows they have authorized a new series of preferred stock, Series H, and it is at a lower price than the previous Series G and Series F. Anti-dilution kicked in for Series G and F, so they will have conversion rates if they convert to common stock. Other terms surrounding the financing include pari passu with all other preferred in the liquidation stack, and conventional convertible meaning they will not participate with common stock for any remaining proceeds. Series H price per share is $15.4362, down from Series G ($17.1842) and Series F ($15.7763).
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