Figure Technology Solutions, Inc. on Tuesday announced the launch of its initial public offering (IPO) of 26.3 million shares of Class A common stock in a bid to raise $526 million. The news follows reports in July that the company was preparing to go public in the fall.

The IPO news is a win for the San Francisco-based company, which faced challenges to go public during the Biden administration but sees a friendlier environment for crypto-related businesses under the Trump administration.

Figure is targeting a valuation of up to $4.13 billion in its IPO.

A Figure spokesperson told HousingWire in July that the company was pursuing an IPO and announced its filing of a confidential S-1 form with the Securities and Exchange Commission (SEC).

The offering includes about 21.5 million shares from Figure and 4.9 million shares from certain selling stockholders. The company confirmed in a press release that it will not receive any proceeds from shares sold by those stockholders.

The IPO price is expected to range from $18 to $20 per share. Figure also plans to grant underwriters a 30-day option to buy up to an additional 3.9 million shares at the IPO price, minus underwriting discounts and commissions.

The company has applied to list its shares on the Nasdaq Global Select Market under the ticker symbol “FIGR.”

Goldman Sachs, Jefferies and BofA Securities are serving as joint lead bookrunners for the offering. Societe Generale, Keefe, Bruyette & Woods, Mizuho and Stifel are also acting as bookrunners, while Texas Capital Securities, Needham & Co., Piper Sandler, FT Partners, KKR and Roberts & Ryan are co-managers.

A registration statement has been filed with the SEC but is not yet effective. The shares cannot be sold until the registration is approved.

Co-founded in 2018 by Mike Cagney, Figure operates a blockchain-based platform for consumer lending, trading and digital assets investing.

More: