Blockchain Lender Figure Files for IPO on Nasdaq Under Ticker FIGR
Figure, a blockchain lender founded by Mike Cagney, has filed for an IPO with the SEC to list its Class A shares on Nasdaq under the ticker FIGR. Goldman Sachs, Jefferies, and BofA Securities are the lead underwriters.
- Previous attempt at going public via a SPAC in 2021 did not succeed.
- A more favorable regulatory environment and strong market conditions have led to increased IPO activity among digital asset firms.
- Recent merger with Figure Markets, which issues YDLS, a yield-bearing stablecoin.
- Revenue increased by 22.4% in H1 2025 to $190.6 million; net income reached $29 million compared to a $13 million loss last year.
- IPO proceeds will support working capital and acquisitions; no dividends planned.