Lender Figure Technologies’ IPO Raises $787.5 Million (1)

Blockchain-based credit company Figure Technology Solutions Inc. and some of its backers raised $787.5 million in an initial public offering, pricing shares above a marketed range.

The company and the selling shareholders including Ribbit Capital sold 31.5 million shares at $25 per share, according to a statement. At the IPO price, Figure would have a market value of about $5.3 billion, based on the outstanding shares in its filings.

Figure is going public in what’s set to be the US market’s busiest week of the year in terms of IPO volume, according to data compiled by Bloomberg, joining digital ...