Figure Fig, having collected $ 787.5 million for the IPO of the Blockchain lender, ended its first day of negotiation on the NASDAQ with a gain of more than 24% compared to its supply price and jumped 10% on the second day.
The figure list is the last of a solid series of long -awaited cryptographic stock market. Outings in the sector increased as President Donald Trump’s administration and a congress led by the Republicans pushed the regulations adapted to the industry. And this occurs while technological companies seek to take advantage of the IPO window of the post-work day.
The figure, which comes from consumer house loans via blockchain tech, increased its stock market price to $ 25, against its objective from $ 20 to $ 22 per share, which gives it an evaluation of $ 5.3 billion. On Thursday, he opened his first day of negotiation at $ 36.00 and ended the session at $ 31.28. In the trading on Friday, the actions of figure headed north of $ 34.
The result is a windfall for some of the largest and longer venture capital companies in crypto, notably Pantera Capital, Jump Crypto, CMT Digital, DCM Ventures and North Island Ventures. Other technological VCs, such as Lightspeed, also supported the figure.
The company, led by the co-founder of Sofi, Mike Cagney, specializes in home credit lines, known as heloc, which he says that he can issue in about 10 days. In preparation for its possible public list, the company has merged its two commercial units, the figures and the technology solutions of the figures, earlier this year.
He revealed in documents of $ 29.3 million out of $ 190.5 million in revenue as a private company until the first half of this year. For the full year 2024, he generated a profit of $ 17.2 million after posting a net loss of $ 47.94 million the previous year.
Investors are considering other cryptographic stock exchange in the work, namely the list of crypto exchange gemini on Friday September 12, which would be 20 times overwriter. Circle Internet CRCL set the tone earlier this year, with an oversized IPO to an $ 18 billion assessment for the stablecoin issuer.
Publisher’s note: This article was initially published on Pitchbook.com.
