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Figure Technologies IPO is attracting stronger-than-expected demand, prompting the blockchain lender to raise both the number of shares on offer and the expected price range.
According to reuters, the company now plans to sell 31.5 million shares at $20–$22 each, up from the initial 26 million shares priced at $18–$20. If completed, the offering could raise roughly $693 million, significantly higher than the earlier $526 million target.
The Figure Technologies IPO is slated to launch on Thursday on the NASDAQ under the ticker symbol FIGR. The company, originally targeting a valuation of $4.1 billion, could see its market capitalization increase if investor enthusiasm continues.
The upsizing of the Figure Technologies IPO reflects a surge of retail and institutional interest in crypto-related stocks, following successful public listings by Bullish and Circle earlier this year. Analysts suggest the wave of listings highlights how blockchain-focused firms are capitalizing on regulatory clarity and shifting investor sentiment.
“Stablecoin issuers are uniquely positioned because they bridge traditional finance with digital assets,” — Elena Maniou, senior fintech analyst at Autonomous Research, in a note to clients.
The company’s decision to raise its IPO terms signals confidence that its business model, centered on blockchain-enabled lending and trading, resonates with investors looking for exposure beyond exchanges and mining operations.
Co-founded in 2018 by tech entrepreneur Mike Cagney, Figure has built a blockchain-native platform that supports lending, consumer credit, and digital asset trading. The firm claims it can fund home equity loans within 10 days, far faster than the industry average of 42.
The company’s improving financials are another draw for the Figure Technologies IPO. For the six months ending June 30, Figure reported a net profit of $29 million, a sharp turnaround from the $13 million loss posted in the same period last year.
“Investors are showing they will reward profitability and operational efficiency in the crypto sector,” — David Hudson, managing director at New Street Advisors, in an interview with Bloomberg.
The political climate has also bolstered confidence in blockchain firms. The current U.S. administration’s favorable stance toward digital assets has accelerated institutional adoption, helping pave the way for listings like the Figure Technologies IPO.
Still, analysts caution that high expectations come with risks. “A wave of crypto IPOs may overheat valuations in the near term,” — Sheila Warren, CEO of the Crypto Council for Innovation, told CNBC.
Even so, the Figure Technologies IPO is seen as an important milestone that could set the tone for other fintech and blockchain companies eyeing public markets.
With its trading debut only days away, the Figure Technologies IPO is shaping up as one of the year’s most closely watched offerings. The final size and pricing could still change before launch, but investor demand suggests strong momentum.
For crypto investors and policy makers alike, the outcome of the Figure Technologies IPO will serve as a litmus test for the appetite and durability of blockchain-focused firms in public markets.
