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Blockchain Lender Figure Debuts on Nasdaq at $5.3 Billion Valuation
Blockchain Lender Figure Debuts on Nasdaq at $5.3 Billion Valuation
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BTCCSquare news:
Figure Technologies, a blockchain-based lending platform, commenced trading on Nasdaq under the ticker "FIGR" after raising $787.5 million in its IPO. The New York firm priced 31.5 million shares at $25 each, exceeding its initial target range of $20-$22 per share. With 211 million shares outstanding, the listing values Figure at $5.29 billion.
The IPO marks another milestone for crypto-linked firms accessing public markets this year, following Bullish exchange and Circle's debuts. Notably, Figure retains $587 million from the offering, with Goldman Sachs and BofA Securities leading underwriting. The company claims dominance in tokenized home equity lines of credit, with $12.5 billion in market capitalization for its HELOC products.
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