Figure Technology Solutions, Inc. announced the pricing of its initial public offering (IPO) of 31,500,000 shares of its Class A common stock at a public offering price of $25 per share, raising $787.5 million.
According to a new press release, the shares began trading Thursday on the Nasdaq Global Select Market under the ticker symbol “FIGR.”
The offering is expected to close Friday, subject to the satisfaction of customary closing conditions.
The offering consists of 23,506,605 shares of Class A common stock offered by Figure and 7,993,395 shares of Class A common stock offered by certain of Figure’s existing stockholders. Figure has granted the underwriters a 30-day option to purchase up to an additional 4,725,000 shares of its Class A common stock at the initial public offering price, less underwriting discounts and commissions. Figure will not receive any proceeds from the sale of shares by the selling stockholders.
Goldman Sachs & Co. LLC, Jefferies and BofA Securities are acting as joint lead bookrunning managers for the offering. Societe Generale, Keefe, Bruyette & Woods, a Stifel company, and Mizuho are acting as bookrunners. Texas Capital Securities, Needham & Company, Piper Sandler, FT Partners, KKR and Roberts & Ryan are acting as co-managers.
FIGR closed Thursday up nearly 25% from the day’s open.
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