TLDR
- Figure’s $25 IPO raises $787.5M, valuing fintech lender at $5.3B.
- Figure debuts on Nasdaq at $25 per share, topping IPO forecasts.
- Figure’s blockchain-driven IPO prices at $25, lifts value to $5.3B.
- Figure secures $787.5M in Nasdaq IPO, ticker “FIGR” debuts today.
- Strong demand drives Figure IPO to $25/share, $5.3B market cap.
Figure Technology Solutions has finalized its initial public offering at $25 per share, surpassing earlier pricing expectations. The Figure IPO now targets a total raise of $787.5 million, positioning the firm for a $5.3 billion valuation. Shares of the blockchain-native lender begin trading today on the Nasdaq Global Select Market under the symbol “FIGR.”
The Figure IPO includes 31.5 million Class A shares, with 23.5 million issued by the company and 8 million sold by existing stockholders. This represents a shift from earlier allocations, with the company increasing its share portion while reducing that of stockholders. Figure will not receive proceeds from the shares sold by existing holders.
Underwriters have received a 30-day option to purchase up to 4.7 million extra shares at the IPO price, excluding fees. The Figure IPO is backed by prominent underwriters including Goldman Sachs, Jefferies, and BofA Securities. The offering is scheduled to close on September 12, pending customary conditions.
IPO Pricing Surpasses Estimates Amid Strong Demand
Figure increased its IPO pricing above its prior estimated range of $20 to $22 per share. This decision signals strong interest and positions the company for a stronger market debut. As a result, the firm boosts its capital raise projection by nearly $100 million.
The updated valuation places Figure’s worth at approximately $5.3 billion, up from the earlier expected $4.7 billion. This new valuation includes 211.7 million total shares, factoring in both Class A and B common stock. The count excludes potential purchases through the overallotment option.
By setting a firm price of $25, the Figure IPO stands as one of the higher-valued fintech offerings in recent quarters. Market attention has focused on the offering due to its blockchain-native model and leadership team. The company’s move to Nasdaq signals its transition from private funding to broader capital markets.
Share Allocation and Market Debut Details
The final share mix includes more primary shares from Figure itself and fewer from early backers. Figure’s decision to adjust the offering highlights a strategic move to retain capital for operations and growth. The company aims to support long-term expansion through this raise.
Shares will trade under the ticker “FIGR,” with trading activity expected to reflect the market’s response to the Figure IPO. Analysts have pointed to the firm’s disruptive model in lending and financial infrastructure. This has contributed to interest around its public listing.
Underwriters include Goldman Sachs, Jefferies, and BofA as lead bookrunners, joined by several co-managers. The Figure IPO prospectus became effective with the SEC on September 10. The final offering will close on September 12, marking the full entry into public markets.
Figure’s Business Model and Leadership Context
Figure operates a blockchain-powered lending platform and financial infrastructure solution for institutions and consumers. The firm leverages Provenance Blockchain to streamline loan origination, servicing, and secondary market operations. Its core products include home equity lines, mortgage refinancing, and capital markets solutions.
The company was founded by Mike Cagney, who previously co-founded SoFi and led it through early hypergrowth. Figure’s strategic focus combines decentralized technology with regulatory alignment and institutional scale. The firm has positioned itself as a leader in transforming legacy lending systems.
With the Figure IPO, the firm seeks to accelerate platform adoption, expand its services, and invest in product development. Proceeds from the offering will fund growth initiatives while enhancing balance sheet strength. As of today, the Figure IPO marks a major step in its evolution as a public entity.
