Blockchain Lender Figure Sets IPO Price at $25, Aiming to Raise $787.5M
Figure Technologies, a blockchain-centric lending platform founded by Mike Cagney, has set its initial public offering (IPO) price at $25 per share, aiming to raise $787.5 million.
- Shares will trade on Nasdaq under the ticker “FIGR” starting September 11.
- The IPO includes 31.5 million shares: 23.5 million from Figure and 8 million from existing shareholders.
- An additional 4.7 million shares may be available if underwriters opt to purchase more.
- The company's IPO was recently upsized to $526 million.
- Figure has originated over $16 billion in home equity loans, making it the largest non-bank provider in this sector.
- Goldman Sachs, Jefferies, and BofA Securities are leading the offering with other underwriters involved.
- The offering is expected to close on September 12, subject to standard closing conditions.