"Originally, the company planned to offer 26.3 million (26,315,789) shares of Class A common stock to the public. Now, they've increased that number to 31.5 million shares, of which 26,645,296 shares are being offered by Figure and 4,854,704 shares are being offered by certain of Figure's existing stockholders. Tuesday's news follows last week's announcement of Figure announcing the launch of its initial public offering (IPO) of 26.3 million shares of Class A common stock in a bid to raise $526 million."
"The company initially expected the share price to be between $18 and $20 per share, but Tuesday's upsizing increased the price range to $20 to $22 per share. Figure intends to grant the underwriters a 30-day option to purchase up to an additional 4,725,000 shares of its Class A common stock, at the initial public offering price, less underwriting discounts and commissions."
"The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or other terms of the offering. Figure has applied to list its Class A common stock on the Nasdaq Global Select Market under the ticker symbol FIGR. Goldman Sachs, Jefferies and BofA Securities are serving as joint lead bookrunners for the offering."
Figure increased its planned public offering from 26.3 million to 31.5 million Class A shares, with 26,645,296 shares offered by Figure and 4,854,704 by existing stockholders. The company raised its proposed IPO price range from $18–$20 to $20–$22 per share and plans to grant underwriters a 30-day option to buy up to 4,725,000 additional shares. The company will not receive proceeds from shares sold by selling stockholders. The offering is subject to market conditions. Figure has applied to list its Class A common stock on the Nasdaq Global Select Market under FIGR. Goldman Sachs, Jefferies and BofA Securities lead the offering.
Read at www.housingwire.com
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