Figure Technologies Sets IPO Price at $25 Per Share, Aiming to Raise $787.5 Million

According to PANews, blockchain lending platform Figure Technologies, founded by SoFi co-founder Mike Cagney, has priced its initial public offering (IPO) at $25 per share, with an expected total raise of $787.5 million. The company's Class A shares are scheduled to begin trading on the Nasdaq under the ticker symbol 'FIGR' later today, September 11. The offering includes 31.5 million shares, with approximately 23.5 million shares directly from Figure and 8 million shares from existing shareholders. An additional 4.7 million shares may be sold if underwriters exercise their option to purchase more stock. Last week, the IPO size was increased to $526 million. The offering is anticipated to be completed by September 12, subject to customary closing conditions.