Figure Technology Solutions Raises $600M with 8.5% Senior Notes Due 2031
FIGR•Figure Technology Solutions priced a private offering of $600 million 8.500% senior notes due 2031 at par, expecting $587.5 million net proceeds after discounts and expenses. Proceeds will fund the cash consideration for its acquisition of Kiavi and support general corporate purposes, with closing scheduled for July 14, 2026.
1. Notes Offering Details
Figure Technology Solutions issued $600 million of 8.500% senior notes due 2031 in a private placement priced at 100% of par. After deducting initial purchasers’ discounts, commissions and offering expenses, the transaction is expected to generate approximately $587.5 million in net proceeds.
2. Use of Proceeds
The company intends to allocate net proceeds primarily to fund the cash consideration for its pending acquisition of Kiavi, an AI-powered residential real estate lending platform, and to cover general corporate needs and related fees. Completion of the notes offering is not contingent on closing the Kiavi acquisition; uncommitted funds would revert to general purposes if the deal fails.
3. Closing and Guarantee
The closing of the senior notes issuance is anticipated on July 14, 2026, subject to customary closing conditions. The notes will be jointly and severally guaranteed by certain domestic wholly-owned subsidiaries and were offered exclusively to qualified institutional buyers and non-U.S. persons under applicable exemptions.
