Figure Technology’s IPO has been upsized to a $20–$22 per-share range, offering 26.6 million primary Class A shares and a possible total deal near $796 million if underwriters exercise the overallotment. The upsized Figure Technology IPO increases company proceeds and funds platform growth.
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Figure Technology IPO price range: $20–$22 per share
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Primary offering: 26.6 million Class A shares; total offering: 31.5 million shares including secondary shares
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Potential total deal size: up to $796 million if the full 4.7 million-share overallotment is exercised
Figure Technology IPO upsized to $20–$22 per share, raising up to $689M in primary proceeds; read how the raise funds product scaling and stablecoin infrastructure.
Figure Technology has raised its IPO price range to $20–$22 per share, lifting potential proceeds to $689 million from the primary offering.
Blockchain-focused lending firm Figure Technology Solutions has increased the size and pricing range of its initial public offering, with the dealer range now set at $20 to $22 per share. The revised range raises expected primary proceeds and signals stronger investor demand relative to the prior $18–$20 range.
In a regulatory filing, Figure said it plans to offer 26.6 million shares of Class A common stock as the primary sale. Selling stockholders will offer an additional 4.85 million secondary shares, making the total deal 31.5 million shares. If underwriters exercise the 4.7 million-share overallotment in full, the combined offering could reach roughly $796 million.
An excerpt from the filing. Source: SEC
What is the Figure Technology IPO update?
Figure Technology IPO has been repriced to $20–$22 per share for 26.6 million primary Class A shares, with an additional 4.85 million secondary shares offered by existing holders. The company stands to raise up to $689 million in primary proceeds and up to $796 million if the overallotment is fully exercised.
How much will Figure raise and how will proceeds be used?
Figure expects up to $585 million in gross proceeds from the primary sale at the midpoint and up to $689 million if the overallotment is exercised. The company plans to allocate proceeds to strengthen its blockchain ecosystem, accelerate adoption of the loan origination platform Figure Connect, scale the Dart onchain lien and eNote registry, and bolster infrastructure for the SEC-registered interest-bearing stablecoin YLDS.
Why does the IPO include secondary shares?
Secondary shares are being sold by existing stockholders and will not generate proceeds for Figure. The inclusion of 4.85 million secondary shares allows current investors to monetize a portion of their holdings while the company retains capital-raising from the primary tranche.
Gemini upsizing: what changed?
Coin exchange Gemini also raised its IPO price range to $24–$26 per share and expects a valuation above $3 billion. Gemini’s offering size remains at 16.67 million shares, with an anticipated raise of $433 million. The exchange is also selling $50 million of shares to Nasdaq in a private placement, according to the filing.
Frequently Asked Questions
How does Figure’s IPO affect its product roadmap?
The upsized Figure Technology IPO increases available capital specifically earmarked for platform development. Expect accelerated deployment of Figure Connect, expanded digital asset marketplaces, and further investment in onchain registry capabilities and YLDS infrastructure.
When will Figure go public and what valuation is implied?
Figure has not disclosed a final pricing date in this filing. The revised range and offering size imply significant investor interest, but an official valuation will depend on final share count and market pricing at the time of IPO pricing.
Key Takeaways
- Pricing shift: Figure Technology IPO repriced to $20–$22 per share, reflecting stronger demand.
- Proceeds and structure: 26.6M primary shares could raise up to $689M for the company if overallotment is exercised.
- Use of funds: Capital will support Figure Connect, Dart registry scaling, YLDS infrastructure, and partial debt reduction.
Conclusion
Figure Technology’s IPO upsizing to $20–$22 per share strengthens its balance sheet and targets accelerated growth across blockchain lending products. The increased primary proceeds will be directed to product development, platform scaling, and regulatory-compliant stablecoin infrastructure — signaling a focused execution plan as the company approaches public markets.
