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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