Figure Technology Solutions, Inc. priced its initial public offering at $25 per share, with trading of its Class A common stock set to begin September 11 on the Nasdaq Global Select Market under the ticker “FIGR.”
The San Francisco-based company is offering 31.5 million shares in the deal, which is expected to close on September 12 pending customary conditions. The IPO includes 23.5 million shares sold by Figure and about 8 million shares offered by existing stockholders.
Breakdown of Share Sale
Underwriters have been granted a 30-day option to buy up to 4.7 million additional shares at the IPO price, excluding discounts and commissions. Figure will not receive any proceeds from the sale of stock offered by its current investors.
Goldman Sachs, Jefferies and BofA Securities are leading the bookrunning process. They are joined by Societe Generale, Keefe, Bruyette & Woods, and Mizuho as additional bookrunners. Texas Capital Securities, Needham & Company, Piper Sandler, FT Partners, KKR, and Roberts & Ryan are acting as co-managers.
Timeline and Market Entry
The offering marks Figure’s first sale of public shares and its entry into one of the U.S.’s top trading venues. Completion of the sale is scheduled for September 12, subject to standard closing requirements.
The IPO provides new capital to Figure while allowing some of its stockholders to reduce holdings. Trading on the Nasdaq Global Select Market places the company among firms required to meet the exchange’s highest standards for corporate governance and financial reporting.
