Figure Sets IPO at $25, Valuation Exceeds $5 Billion
- Figure’s IPO priced at $25 per share, raising $787.5 million.
- Pre-listing valuation hits $5.3 billion.
- Blockchain infrastructure foreseen to impact financial markets.
Figure Technology Solutions set its IPO price at $25 per share, achieving a pre-listing valuation of $5.3 billion with shares listed on Nasdaq under the ticker ‘FIGR’.
The IPO raised $787.5 million, highlighting growing institutional interest in blockchain-powered financial models, potentially influencing future market dynamics.
Figure Technology Solutions has set its initial public offering (IPO) price at $25 per share, marking a pre-listing valuation of approximately $5.3 billion. The company raised about $787.5 million through the sale of 31.5 million shares.
Mike Cagney, Figure’s founder and CEO, previously co-founded SoFi. Underwriters include Goldman Sachs, Jefferies, and BofA Securities. Blockchain technology is a key component of Figure’s fintech platform. As noted by Cagney, “Management argues that the combination of artificial intelligence (AI)-driven automation and blockchain’s transparency could do away with inefficiencies from lending markets while delivering faster, more accessible credit.”
The IPO impacts blockchain-backed lending models and creates institutional exposure. No immediate effect on cryptocurrencies like ETH or BTC was reported. The event is an equity-only offering.
Financial markets could see shifts if blockchain loans gain traction. However, there is no regulatory or market disruption reported around the IPO. Government entities have not released additional opinions.
Industry reactions are muted, with no official major leader comments. The involvement of prominent underwriters highlights interest in blockchain frameworks. A nexus between fintech advancements and blockchain transparency is expected.
Historically linked to IPO activities, Coinbase serves as a precedent. Figure’s emphasis on digital asset infrastructure might influence future stablecoin endeavors, potentially pointing to a technological transformation.
