IPO: The Blockchain-based lending company expects to raise 788 million USD at a price of 25 USD per share.

Figure, a blockchain-based lending company, is preparing for an IPO at a price of 25 USD per share, aiming to raise approximately 787.5 million USD. The company is offering 31.5 million shares of Class A common stock, of which about 23.5 million are issued by Figure and approximately 8 million from existing shareholders. Additionally, underwriters have the option to purchase an additional 4,725,000 shares within 30 days, bringing the total number of shares to be sold to 36.2 million.

The shares will be listed for the first time on the Nasdaq under the ticker FIGR on September 11; the issuance is expected to close on September 12, subject to the usual trading closing conditions. Figure only benefits from the portion of shares issued by the company itself; the portion of existing shareholders does not provide direct revenue to Figure.

The banks leading the IPO include Goldman Sachs, Jefferies, BofA Securities, etc. This is part of the trend of more and more blockchain/cryptocurrency technology companies going public.