Figure Technology Boosts IPO Size, Targets $689M Raise

Blockchain-based lending agency Figure Technology Options has raised the dimensions of its preliminary public providing (IPO), with the whole deal probably reaching practically $800 million.

Based on a Tuesday filing, the corporate is providing 26.6 million shares of Class A standard inventory at a revised value vary of $20 to $22 per share, up from an earlier vary of $18 to $20. Promoting stockholders will supply a further 4.85 million shares, bringing the whole providing to 31.5 million shares.

If underwriters train their full 4.7 million-share overallotment possibility, the total IPO size, together with each major and secondary shares, may attain $796 million. Nevertheless, solely the first shares, these offered by Figure, will generate proceeds for the corporate.

The first sale, which includes the 26.6 million shares issued by Figure, would generate as much as $585 million in gross proceeds. The corporate may increase as much as $689 million if the overallotment is exercised in full. The remaining proceeds from the secondary shares will go to present shareholders.

Associated: Gemini boots IPO to $433M, aims for $3 billion valuation

Figure to strengthen merchandise

Figure intends to make use of the proceeds to strengthen its blockchain ecosystem, put money into platform growth, develop its digital asset marketplaces and repay a portion of excellent debt.

Particularly, the corporate plans to speed up adoption of its mortgage origination platform, Figure Join, and proceed scaling Dart, its onchain lien and eNote registry.

It additionally intends to reinforce infrastructure for its US Securities and Change Fee-registered interest-bearing stablecoin, YLDS, which Figure markets as a compliant different to conventional stablecoins that don’t supply yield.

Figure generated web earnings of $29 million within the first half of 2025 and reported whole stockholders’ fairness of $404 million as of June 30, 2025. Moreover, the corporate has an amassed deficit of $292 million.

Associated: Figure Technology seeks $4B valuation in public listing as crypto IPO wave builds

Gemini upsizes IPO providing

On Tuesday, crypto alternate Gemini additionally raised its IPO price range to $24–$26 per share, aiming for a valuation above $3 billion forward of its Friday debut. The providing measurement stays at 16.67 million shares, however the anticipated increase has jumped to $433 million from the earlier $317 million.