Blockchain lending firm Figure Technologies has significantly increased the price range for its upcoming initial public offering, raising it from $18-$20 to $20-$22 per share. This upward revision reflects robust investor demand and positive market sentiment toward the company's blockchain-based financial services model.
The company is offering 31.5 million shares total, consisting of 26.6 million primary shares from Figure and 4.85 million secondary shares from existing stockholders. If underwriters exercise their full 4.7 million-share over-allotment option, the total deal could reach approximately $800 million. However, only the primary shares will generate proceeds for the company, with Figure potentially raising up to $689 million if the overallotment is fully exercised.
Figure plans to use the capital to strengthen its blockchain ecosystem, invest in platform development, expand digital asset marketplaces, and repay a portion of outstanding debt. Specific initiatives include accelerating adoption of its Figure Connect loan origination platform, scaling its onchain lien and eNote registry called Dart, and enhancing infrastructure for its SEC-registered interest-bearing stablecoin YLDS.
The company reported strong financial performance with $29 million net income in the first half of 2025 and total stockholders' equity of $404 million as of June 30, 2025, though it carries an accumulated deficit of $292 million.
This development occurs alongside Gemini's upsized IPO, indicating growing institutional confidence in cryptocurrency-related businesses. The successful Figure IPO represents a significant milestone for blockchain lending validation and could pave the way for increased institutional investment in decentralized finance solutions.