Blockchain-Based Lender Figure Upsizes IPO to $693 Million

Figure Technology Solutions Inc. increased the potential size of its initial public offering to as much as $693 million amid strong investor demand for the blockchain-based credit company’s shares.

The firm and some of its backers are offering 31.5 million shares, up from 26.3 million, and increased the price range to $20 to $22 per share from $18 to $20 each apiece, according to a filing Tuesday with the US Securities and Exchange Commission. The IPO is well oversubscribed, Bloomberg News reported last week.

At the top of the increased price range, the IPO would give Figure a market value ...