Blockchain company Figure Technology Solutions is planning to raise $526 million in its first public offering, and it is aiming for a valuation of roughly $4.3 billion.
According to Bloomberg, the company said it is selling 21.5 million shares in the $18 to $20 range, with 4.9 million shares offered by existing shareholders. The company filed officially with the SEC on August 18, and it hopes to set the IPO price on September 10.
Meanwhile, the company’s recently reached $191 million in the first half of this year. Its value has gone up since 2021, when it raised $200 million in a Series D round led by 10T Holdings, which valued it at $3.2 billion.
Figure first started as a company giving digital home loans to US homeowners. Later, it added blockchain technology to make lending and financial products easier and faster using the Provenance Blockchain.
The IPO will let new investors buy shares in Figure, while early investors can sell some of their shares. According to reports from Bloomberg, Figure first told regulators about its public plans last month with a confidential filing.
With this, Figure will be joining a trend of other companies that are applying to going public. For instance, crypto exchange Gemini also filed for an IPO on Tuesday, and it’s planning to raise $317 million. Another exchange, Kraken, may try to raise $500 million and go public in 2026, with a value of around $15 billion.
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