Figure Technology Solutions Launches $600M Private Senior Notes Offering for Kiavi Acquisition
FIGR•Figure Technology Solutions plans to issue $600 million of senior notes exempt from Securities Act registration, offered to QIBs and non-U.S. investors. Proceeds will fund cash consideration for the Kiavi real estate lending platform acquisition and cover fees plus general corporate purposes if the deal fails.
1. Private Offering Structure
Figure Technology Solutions intends to privately offer $600 million aggregate principal amount of senior notes in a placement exempt from Securities Act registration. The notes will be sold to qualified institutional buyers under Rule 144A and to non-U.S. investors in compliance with Regulation S.
2. Use of Proceeds
Net proceeds from the offering are earmarked to fund the cash consideration for the acquisition of Kiavi, an AI-powered residential real estate lending platform. If the acquisition does not close, proceeds will be redirected toward fees and general corporate purposes.
3. Guarantees and Conditions
The senior notes will be guaranteed jointly and severally by certain domestic wholly-owned subsidiaries of Figure. Completion remains subject to market and other conditions, with no assurance the transaction will close on the proposed terms or at all.
