Baron Capital Increases Stake in FIGS, Amends Stockholders Agreement

summarizeSummary

Baron Capital Group reported increasing its beneficial ownership in FIGS, Inc. through recent market purchases totaling approximately $8.96 million, while also amending its stockholders agreement to allow for share replacement.

check_boxKey Events

• Significant Share Purchases

  Baron Capital Group acquired 858,367 shares of Class A Common Stock for approximately $8.96 million through market purchases in early February 2026.

• Purchases Below Current Market

  These shares were acquired at an average price of approximately $10.45 per share, substantially below the current stock price of $16.89.

• Stockholders Agreement Amended

  The amendment allows Baron Capital to re-acquire shares to replace those distributed to clients, ensuring they can maintain their beneficial ownership up to a cap of 59,959,449 shares.

• Overall Beneficial Ownership

  Baron Capital Group's aggregate beneficial ownership now stands at 59,959,449 shares, representing 37.93% of the Class A Common Stock outstanding.

auto_awesomeAnalysis

This Schedule 13D/A reveals that Baron Capital Group, a significant institutional investor, increased its stake in FIGS, Inc. by purchasing approximately 858,367 shares for about $8.96 million in early February 2026. These purchases were made at an average price significantly below the current market price, indicating strong conviction by Baron Capital prior to the company's recent positive earnings report. Concurrently, the stockholders agreement was amended to allow Baron to maintain its ownership percentage by replacing shares distributed to its clients, rather than increasing its overall beneficial ownership beyond a specified cap. This positive signal from a major investor contrasts with a separate Form 4 filing on the same day, which reported a $9.37 million sale by an executive chair and 10% owner.