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Investing.com -- Figure Technology, a stablecoin issuer, raised $787.5 million in its initial public offering on Wednesday, pricing shares above its previously increased range.
The New York-based company and some existing investors sold 31.5 million shares at $25 each, exceeding the $20 to $22 range it had previously set. This pricing values Figure at $5.29 billion.
Figure had already increased the number of shares offered from 26 million to 31.5 million on Tuesday, signaling strong demand.
The company will begin trading on the Nasdaq on Thursday under the ticker symbol "NASDAQ:FIGR".
Figure’s successful IPO comes as crypto firms increasingly tap public markets amid growing mainstream acceptance of digital assets. The cryptocurrency sector recently surpassed $4 trillion in market value, supported by regulatory wins under a pro-crypto White House, corporate treasury adoption, and inflows from exchange-traded funds.
Goldman Sachs, Jefferies and BofA Securities served as the lead underwriters for the IPO.
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