Figure Technology Solutions, Inc. (Figure) has initiated its initial public offering (IPO) of 26,315,789 shares of its Class A common stock, with an expected price range between $18.00 and $20.00 per share.
The offering includes 21,461,085 shares offered by Figure and 4,854,704 shares offered by certain selling stockholders. Figure will not receive any proceeds from the sale of shares by the selling stockholders. The company anticipates granting the underwriters a 30-day option to purchase up to an additional 3,947,368 shares of its Class A common stock at the IPO price, less underwriting discounts and commissions. Figure has applied to list its Class A common stock on the Nasdaq Global Select Market under the ticker symbol “FIGR.”
Goldman Sachs & Co. LLC, Jefferies, and BofA Securities are serving as joint lead bookrunning managers for the proposed offering. Societe Generale, Keefe, Bruyette & Woods (A Stifel Company), and Mizuho are acting as bookrunners, while Texas Capital Securities, Needham & Company, Piper Sandler, FT Partners, KKR, and Roberts & Ryan are co-managers.
A registration statement related to these securities has been filed with the U.
S. Securities and Exchange Commission (SEC) but has not yet become effective. The securities cannot be sold, nor can offers to buy be accepted, prior to the time the registration statement becomes effective.
Figure Technology Solutions operates a blockchain-native capital marketplace designed to connect origination, funding, and secondary market activities. Its platform is utilized by over 160 partners.
Collectively, Figure and its partners have originated more than $16 billion in home equity to date, positioning Figure’s ecosystem as the largest non-bank provider of home equity financing. Key components of its ecosystem include Figure Connect, a consumer credit marketplace, and Democratized Prime, an on-chain lend-borrow marketplace.
The company’s offerings also include DART (Digital Asset Registry Technology) for asset custody and lien perfection, and YLDS, an SEC-registered yield-bearing stablecoin structured as a tokenized money market fund.
