Mike Cagney’s Figure Technologies Seeks $4.13B Valuation in Nasdaq IPO

Figure Technologies, the blockchain lender based by SoFi co-founder Mike Cagney, is aiming for a valuation of as much as $4.13 billion in its upcoming preliminary public providing, in accordance with new filings with the U.S. Securities and Exchange Commission.

The firm and its backers are searching for to boost as a lot as $526 million by means of the share sale, making Figure the newest crypto-linked agency to check fairness markets as investor urge for food for brand new listings returns.

Shares are set to commerce on Nasdaq underneath the ticker FIGR, with Goldman Sachs, Jefferies, and BofA Securities main the underwriting syndicate.

Figure has been a distinguished participant in the real-world asset (RWA) sector, originating greater than $16 billion in dwelling fairness strains of credit score utilizing its Provenance blockchain rails.

Earlier this 12 months it merged with Figure Markets, one other Cagney enterprise that operates a blockchain market and points YDLS, a yield-bearing stablecoin structured as a tokenized cash market fund.