Figure Tech’s $800M IPO: Blockchain, Bucks, and Big Dreams 💸🚀

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Oh, honey, grab your popcorn because Figure Technology Solutions is throwing a party on Wall Street, and everyone’s invited! 🎉 This blockchain-based lending darling has decided its IPO wasn’t spicy enough, so it’s upsized the whole shebang. We’re talking nearly $800 million, people. That’s a lot of avocado toast. 🥑

According to a Tuesday filing (because Tuesdays are for drama), Figure’s offering 26.6 million shares of Class A common stock at a price range of $20 to $22 per share. That’s up from $18 to $20, because why not? Selling stockholders are chipping in another 4.85 million shares, bringing the total to 31.5 million. Underwriters have a 4.7 million-share overallotment option, just in case they want to join the fun. If they do, we’re looking at a cool $796 million. 💰

But here’s the kicker: only the primary shares (Figure’s 26.6 million) will actually line the company’s pockets. That’s up to $585 million in gross proceeds, or $689 million if the overallotment gets exercised. The rest? Straight to the existing shareholders. Sorry, Figure, sharing is caring, but this is business, darling. 🤷♀️

What’s Figure Gonna Do With All That Cash? 💡

Oh, you know, just the usual: strengthen its blockchain ecosystem, invest in platform development, and expand its digital asset marketplaces. Also, paying off some debt because even blockchain companies have bills. 📉

Specifically, they’re speeding up the adoption of Figure Connect (their loan origination platform) and scaling Dart, their onchain lien and eNote registry. And let’s not forget YLDS, their SEC-registered interest-bearing stablecoin. Because who doesn’t want a compliant stablecoin that actually pays you? 🤑

Fun fact: Figure made $29 million in the first half of 2025, with total stockholders’ equity of $404 million. But they’ve also got an accumulated deficit of $292 million. So, you know, swings and roundabouts. 🎢

Gemini’s IPO: Because Why Not Join the Party? 🥳

Meanwhile, Gemini’s like, “Hold my crypto,” and upsizes its IPO to $24-$26 per share, aiming for a $3 billion valuation. The Winklevoss twins (yes, those ones) are selling 16.67 million shares, now expected to raise $433 million. Nasdaq’s even backing them with a $50 million private placement. Talk about a glow-up! ✨

So, there you have it: blockchain, bucks, and big dreams. Who said finance couldn’t be fabulous? 💃🕺

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2025-09-10 10:58