Figure Technology Solutions Locks In $600M Senior Notes at 8.500% to Fund Kiavi Acquisition
FIGR sits 27% above its 52-week low of $25.01.
Summary
Figure Technology Solutions priced its $600 million senior notes offering at 8.500%, with net proceeds of ~$587.5 million to fund the Kiavi acquisition and general corporate purposes. Closing is expected July 14.
Key Events · Financing and Capital Events · FIGR
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$600M Notes Priced at 8.500%
Figure priced $600 million in senior notes due 2031 at 100% of principal, with an 8.500% coupon. Net proceeds are estimated at ~$587.5 million after discounts and expenses.
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Proceeds Earmarked for Kiavi Acquisition
The net proceeds will primarily fund the $532.4 million cash consideration for the Kiavi acquisition, with the remainder for general corporate purposes. The offering is not contingent on the acquisition closing.
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Closing Expected July 14, 2026
The notes offering is expected to close on July 14, 2026, subject to customary conditions. The notes are unregistered and sold to qualified institutional buyers.
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Follows Prior Announcement
This pricing finalizes the offering initially announced on July 6, 2026. The 8.500% coupon and ~$587.5 million net proceeds are new material details.
Analysis · FIGR · Finance
The terms of the $600 million senior notes offering are now final, with the 8.500% notes priced at par and expected to close on July 14. After discounts and expenses, net proceeds should reach approximately $587.5 million. Most of that capital—$532.4 million—is earmarked for the Kiavi acquisition, while the remainder will support general corporate purposes. Although the offering was previously announced, the pricing and net proceeds represent new material details. The 8.500% coupon reflects both the company's credit profile and prevailing market conditions. These unregistered notes are being sold to qualified institutional buyers. Completing this financing is a critical step toward closing the Kiavi deal, which extends Figure's lending platform into residential real estate investor loans. Importantly, the offering is not contingent on the acquisition closing; if the deal falls through, the proceeds will be used for general corporate purposes, preserving financial flexibility.
At the time of this filing, FIGR was trading at $31.86 on NASDAQ in the Finance sector, with a market capitalization of approximately $7.2B. The 52-week trading range was $25.01 to $78.00. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.