Stablecoin issuer Figure Technologies is increasing its IPO price range to $20-$22 per share and share count to 31.5 million, aiming to raise approximately $693 million, up from an initial $526 million. This upward revision is driven by robust retail investor demand for crypto-related stocks and a supportive market environment following recent successful crypto IPOs like Bullish and Circle, as the blockchain firm swung to a $29 million profit in the first half of the year. Figure is scheduled to begin trading on NASDAQ as FIGR on Thursday, reflecting strong investor appetite in the digital asset sector.
Figure Technologies is capitalizing on strong investor demand by significantly increasing the size and price of its initial public offering, now targeting a raise of approximately $693 million, up from an initial $526 million. The IPO price range has been lifted to $20-$22 per share from $18-$20, reflecting robust retail interest in crypto-related equities, a trend bolstered by the recent successful market debuts of peers like Circle and Bullish. This heightened valuation is supported by a marked improvement in the company's fundamentals, as it swung to a $29 million profit for the six months ended June 30 from a $13 million loss in the prior-year period. The company's value proposition, which includes a blockchain platform that funds home equity loans in 10 days versus the industry average of 42, appears to be resonating with a market that is currently receptive to fintech and digital asset narratives. The IPO, scheduled for Thursday on NASDAQ under the ticker FIGR, is a key barometer for investor sentiment in the sector.
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strongly positive
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