Figure prices IPO at $25 per share, expects to raise $787.5 million

PANews reported on September 11 that according to CoinDesk, Figure Technologies, a blockchain lending platform founded by SoFi co-founder Mike Cagney, has priced its initial public offering (IPO) at $25 per share and is expected to raise $787.5 million. According to the press release, the company's Class A shares are scheduled to be listed and traded on the Nasdaq later on September 11 (today) under the stock code "FIGR". The offering includes 31.5 million shares, of which approximately 23.5 million shares come directly from Figure and 8 million shares come from existing shareholders. If the underwriters exercise their option to purchase more shares, an additional 4.7 million shares can be sold. Last week, the company's IPO size was expanded to US$526 million. The offering is expected to be completed on September 12, subject to meeting normal delivery conditions.