Blockchain-based lending platform, Figure Technology Solutions, has elevated the scale of its initial public offering (IPO). This significant move could potentially push the total deal to come close to a whopping $800 million. The encapsulating report of the pivot indicates a thorough revision in its share offerings and their respective pricing.
Figure’s Expansive IPO
Figure Technology Solutions is reportedly planning to offer an enlarged number of 26.6 million shares of Class A common stock. This is a pivotal move considering it’s a revision from their earlier offering. Now, the shares are to be sold at a price range of $20 to $22 per share, a distinct rise from the initially proposed bracket of $18 to $20. In addition, stockholders planning to sell would provide an additional offering of 4.85 million shares. Collectively, this reconstitution by Figure would take the total count of the offering to an impressive figure of 31.5 million shares.
Potential IPO Size
If underwriters decide to fully exercise their overallotment option of 4.7 million shares, the overall IPO size, which comprises both primary and secondary shares, could reach an impressive scale of about $796 million. Nevertheless, only the primary shares sold by Figure will contribute the proceeds for the company.
Gross Proceeds Expectations
The primary sale encapsulates the 26.6 million shares offered by Figure. From this, the company could potentially generate up to $585 million in gross profit. In a scenario where the overallotment exercise is done thoroughly, the company’s gross proceeds could spike up to nearly $689 million.
Allocation of Proceeds
Figure Technology Solutions has clear plans for the use of the proceeds that it generates. These plans include fortifying its blockchain ecosystem and investing significantly in platform development. In conjunction, the company also intends to expand its digital asset domain and repay a part of its outstanding debt. Specifically, the company has its eyes set on accelerating the adoption of its loan origination platform, referred to as Figure Connect. Furthermore, the company aims to scale Dart, its on-chain lien and e-note registry effectively. A considerable enhancement in the infrastructure of its U.S. Securities and Exchange Commission-registered, interest-bearing stable coin, YLDS, is also on their agenda.
Company’s Financial Performance
In the initial half of 2025, Figure accrued a net income of $29 million. As of June 30, 2025, it reported a total stockholder’s equity of $404 million. In contrast, the company also has an accumulated deficit of $292 million.
Other Crypto Developer News
As per the latest reports, crypto exchange Gemini has raised its IPO price range to $24-$26 per share in the run-up to its Friday debut. As a result, the offering size remains stable at around 16.67 million shares, but the expected raise has leaped to $433 million from the earlier $317 million. The firm also secured Nasdaq as a backer, with the exchange agreeing to purchase $50 million worth of shares in a private placement.
