Blockchain-focused lending company Figure Technology Solutions has increased the size of its initial public offering (IPO), with the total deal potentially approaching $800 million.
In a filing on Tuesday, the firm said it is offering 26.6 million shares of Class A common stock at a revised price range of $20 to $22 per share, up from the previous $18 to $20 range. Existing stockholders plan to sell an additional 4.85 million shares, bringing the total offering to 31.5 million shares.
If underwriters fully exercise a 4.7 million-share overallotment option, the combined IPO—including both primary and secondary shares—could reach $796 million. Only the primary shares sold by Figure will generate proceeds for the company.
The sale of 26.6 million primary shares could bring in up to $585 million, potentially rising to $689 million if the overallotment is fully exercised. Proceeds from the secondary shares will go to existing shareholders.
Figure Plans to Strengthen Products
Figure Technology Solutions plans to use IPO proceeds to bolster its blockchain ecosystem, invest in platform development, expand digital asset marketplaces, and repay part of its outstanding debt.
The company aims to accelerate adoption of its loan origination platform, Figure Connect, and continue scaling Dart, its on-chain lien and eNote registry. It also plans to enhance the infrastructure for its SEC-registered interest-bearing stablecoin, YLDS, which it promotes as a compliant alternative to traditional stablecoins that do not offer yield.
Figure reported net income of $29 million for the first half of 2025 and total stockholders’ equity of $404 million as of June 30, 2025, while carrying an accumulated deficit of $292 million.
Gemini Upsizes IPO Offering
Crypto exchange Gemini also raised its IPO price range to $24–$26 per share on Tuesday, targeting a valuation above $3 billion ahead of its Friday debut. The offering remains at 16.67 million shares, but the expected proceeds have increased to $433 million from $317 million.
The Winklevoss-founded company secured Nasdaq as a backer, with the exchange set to purchase $50 million worth of shares through a private placement.
