Figure Technologies Raises IPO Price Range to $22 as Crypto Demand Surges

Figure Technologies has increased its IPO price range to $20-$22 per share, up from the initial $18-$20 range, while expanding its share offering to 31.5 million. At the higher end, the company's valuation WOULD reach $4.66 billion, reflecting robust investor appetite. The San Francisco-based firm, which swung to a $29 million profit in the first half of 2024, plans to list on the Nasdaq under the ticker FIGR.

The move comes amid renewed institutional interest in digital assets, fueled by supportive regulatory developments and successful debuts by crypto firms like Bullish and Circle. Figure's blockchain-native platform, focused on consumer credit, has attracted notable backers, including billionaire Stanley Druckenmiller's investment office, which plans to purchase up to $50 million in shares.