Figure Technologies Debuts on Nasdaq at $25 Per Share, Generating $788 Million in IPO Proceeds

Rekt_Recovery · 2026-02-01T10:24:03+00:00

Figure Technologies successfully completed its IPO, raising $787.5 million with shares trading on Nasdaq under ticker FIGR. As the largest non-bank provider of home equity loans, it demonstrates blockchain's potential in traditional lending markets, backed by major financial institutions.

Rekt_Recovery

2026-02-01 10:24:03

Abstract generation in progress

Figure Technologies, a blockchain-based loan origination platform established by SoFi co-founder Mike Cagney, has successfully completed its initial public offering. The company’s shares began trading on Nasdaq in mid-September 2025 under the ticker symbol “FIGR,” marking a significant milestone for blockchain-focused financial services in the traditional capital markets.

IPO Pricing and Share Allocation Details

Figure set its IPO share price at $25 per share, generating approximately $787.5 million in gross proceeds. The offering comprised 31.5 million total shares, with roughly 23.5 million issued directly by Figure and 8 million coming from existing shareholders. Underwriters retained the option to purchase an additional 4.7 million shares, which would bring the total offering size to 36.2 million shares if fully exercised, potentially increasing the capital raised from the IPO.

Figure’s Position in the Lending Market

What sets Figure apart is its scale within the non-bank lending space. The company has facilitated the origination of over $16 billion in home equity loans, positioning it as the largest non-bank provider of this type of financing. This track record demonstrates the growing viability of blockchain infrastructure for traditional lending products, even as the broader cryptocurrency sector navigates regulatory challenges.

Trading Launch and Underwriter Support

Figure’s entry into public markets was backed by a substantial lineup of financial institutions. Goldman Sachs, Jefferies, and Bank of America Securities led the offering as joint bookrunners, supported by a roster of additional underwriters including Societe Generale, Stifel, and Mizuho. This institutional support underscores confidence in Figure’s business model and market opportunity. The offering was scheduled to close on September 12, 2025, subject to customary closing conditions.

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