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RWA's First Unicorn Figure Aims to Raise $526 Million Through Initial IPO, Valued at Over $4 Billion

By: theblockbeats.news|2025/09/03 01:22:15
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BlockBeats News, September 3rd: Figure, the first stock of RWA, plans to raise $526 million through an Initial Public Offering (IPO), with a valuation of over $4 billion, joining the wave of blockchain companies such as Circle, Bullish, and Gemini going public. Regulatory filings submitted by Figure on Tuesday showed plans to issue 21.5 million shares of stock at a price of $18 to $20 per share, with an expected issuance of 4.9 million shares to existing shareholders. At the highest end of this issuance price range, this IPO will give the company a valuation of approximately $4.3 billion. Figure submitted its initial listing application to regulators last month in secret, disclosing its listing plans. The latest filings indicate that Figure plans to set the IPO pricing date on September 10th.

Figure Technology Solutions (FTS) was founded by Mike Cagney, co-founder and former CEO of SoFi. Different from the traditional financial institution playbook, Figure has been blockchain-native since its inception, reshaping the financial landscape of mortgage and crypto-backed loans through blockchain. Mike Cagney previously led SoFi to disrupt the fintech industry, and now he aims to once again overturn the business model that traditional banks rely on, this time through blockchain. He stated, "The funding validates our vision of redefining the capital markets using blockchain technology, and we are also seeing real benefits by embracing blockchain in its lending and capital markets operations."

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