Loans

Figure Lending’s parent company plans to go public



Figure Technology Solutions, a newly formed umbrella company under Figure Lending LLC, is working toward a public offering, a move that has received widespread attention. Stakeholder Forecast Since the end of last year.

The company announced on Wednesday that it has “confidentially filed a draft registration statement on Form S-1 with the U.S. Securities and Exchange Commission (“SEC”) in connection with an initial public offering of its equity securities. ” Required to register a company that wants to be listed on a national exchange.

The company said that so far, no decision has been made on the number of shares to be offered and the price range of the proposed offering, and that the offering will depend on market conditions and the completion of the SEC review process.

Tu declined to provide further information about the IPO.

Figure Technology Corporation announced Move its lending arm into a separate companywhich was operating independently just a week ago.

Bloomberg reported that companies planning to list FTS include Goldman Sachs Group, JPMorgan Chase and Jefferies Financial Group, and the company’s valuation may be between US$2 billion and US$3 billion.

The company previously said that moving its lending arm under FTS reflects “the growth and vision of Figure’s technology-enabled lending platform, which was built to reshape the industry, starting with HELOCs.”

Illustration to concentrate Growing market share in home equity credit.Last year, it launched HELOC wholesale loan production platform. The company also has partnerships with independent mortgage bankers to offer private-label HELOC products.

Mike Cagney, co-founder and CEO of Figure Technology Solutions, said: “By creating a dedicated business, FTS will focus its resources on the continued success of its technology platform, providing cutting-edge solutions to increase efficiency throughout the lending ecosystem.” 3 Press release dated March 18th.





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