Blockchain lender Figure plans to increase its IPO to $693 million

PANews reported on September 9th that blockchain lender Figure Technology Solutions Inc. has increased the potential size of its initial public offering (IPO) to as much as $693 million, according to Bloomberg. According to a filing with the US Securities and Exchange Commission on Tuesday, the company and some of its backers will issue 31.5 million shares (26.6 million from the company and 4.9 million from shareholders), up from the previously planned 26.3 million. The price range per share has been raised from $18 to $20 to $20. At the upper end of the raised price range, the IPO would give Figure a market capitalization of approximately $4.7 billion based on the number of shares outstanding. This compares to a $3.2 billion valuation in a 2021 venture capital funding round. The filing indicates that Duquesne Family Office LLC has expressed interest in purchasing up to $50 million worth of shares at the IPO price in the expanded offering. Figure expects to set the IPO price on Wednesday, with shares set to begin trading on the Nasdaq Stock Market on Thursday under the ticker symbol FIGR.

According to previous news, Figure plans to increase the IPO issuance size and pricing range .