Figure Acquisition I closed its IPO of 28.75 million units, which included the full exercise of the underwriters’ over-allotment option. The offering was priced at $10 per unit, generating total gross proceeds of $287.5 million. Each unit consists of one share of Class A common stock and one-fourth of one redeemable warrant. Each whole warrant entitles the holder to purchase one share of Class A common stock at $11.50.
Figure Acquisition I intends to focus its search on businesses in the financial technology and financial services sector. The management team includes former SoFi CEO Mike Cagney. Read more.
