Figure Launches 4.23M-Share Offering with $30M Repurchase Plan
Figure Technology Solutions launched a proposed secondary offering of 4.23 million shares of Series A Blockchain Common Stock, with Goldman Sachs, Morgan Stanley and Cantor Fitzgerald as joint book-runners. It will use cash to repurchase up to $30 million of Class A shares at the offering price upon closing.
1. Offering Details
Figure Technology Solutions has commenced a proposed secondary offering of up to 4.23 million shares of its Series A Blockchain Common Stock. Goldman Sachs, Morgan Stanley and Cantor Fitzgerald will act as lead joint book-runners for the transaction, which remains subject to SEC registration effectiveness.
2. Share Repurchase
Upon completion of the offering, the company intends to repurchase up to $30 million of its Class A common shares at the same price paid by underwriters to the selling stockholders. This repurchase is designed to offset dilution and return capital to shareholders.
3. Funding and Strategic Impact
The repurchase will be funded with cash on hand without needing additional financing. By coupling the offering with a buyback, Figure seeks to maintain share count control while raising capital for growth in its blockchain-native capital marketplace.