Figure Technologies, the blockchain lender founded by SoFi (SOFI) co-founder Mike Cagney, is aiming for a valuation of $4.13 billion U.S. in its upcoming initial public offering (IPO).
Filings made with the U.S. Securities and Exchange Commission (SEC) ahead of the IPO show that Figure wants to raise as much as $526 million U.S. through the share sale.
Figure Technologies is the latest in a series of crypto firms that are testing equity markets as investors’ appetite for new listings grows ravenous.
Shares of Figure are set to start trading on the Nasdaq Composite exchange under the ticker symbol “FIGR” on Sept. 10.
Figure has become a significant player in the financial technology (fintech) space, originating more than $16 billion U.S. in home equity lines of credit via blockchain.
The company also operates a blockchain marketplace and issues a yield-bearing stablecoin structured as a tokenized money market fund.
Wall Street investment banks Goldman Sachs (GS) and Jefferies Financial Group (JEF) are underwriting the Figure Technologies IPO.
