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

PANews September 9th news, according to Bloomberg, blockchain lender Figure Technology Solutions Inc. has expanded the potential size of its initial public offering (IPO) to up to $693 million. According to a filing filed with the US SEC on Tuesday, the company and some of its supporters will issue 31.5 million shares (the company will issue 26.6 million shares and shareholders will sell 4.9 million shares), up from the previous planned 26.3 million shares, and raise the issue price per share range from $18 to $20 to $22. Calculated based on the raised price range upper limit, this IPO will bring Figure's market value to approximately US$4.7 billion based on the number of shares issued. In a 2021 venture capital round, the company was valued at $3.2 billion. The documents show that in the expanded issuance, Duquesne Family Office LLC has expressed its intention to buy stocks worth up to $50 million at the IPO price. Figure expects to set the IPO price on Wednesday, and shares will start trading on the Nasdaq stock market on Thursday under the code Figure R. Previous news, Figure plans to raise the IPO issuance scale and pricing range.