Stablecoin issuer Figure Technologies is reportedly raising the target size of its initial public offering as retail investors boost demand in crypto-related stocks.
Figure, a blockchain-native platform for lending, trading, and investing in consumer credit and digital assets, is reportedly considering a new IPO price range of $20–$22 per share, up from $18–$20. The company also plans to increase the number of shares to 31.5 million from about 26 million.
The new pricing will raise roughly $693 million, up from $526 million however the exact amounts could be adjusted again before its IPO on Thursday.
The company, co-founded in 2018 by technology entrepreneur Mike Cagney, initially aimed for a valuation of $4.1 billion a week ago.
The IPO adjustment follows a record profit of $29 million for the six months ending June 30, compared to a $13 million loss in the same period last year.
Figure Technologies is scheduled to begin trading on NASDAQ this Thursday under the symbol FIGR.
By CEO NA Editorial Staff
