Figure Plans to Issue $600 Million Senior Priority Notes to Finance Kiavi Acquisition

CoinFeed July 6 news, according to a Globenewswire report, Nasdaq-listed blockchain financial platform Figure Technology Solutions announced that it will raise $600 million through the issuance of senior priority notes, with the specific issuance subject to market conditions. The proceeds will primarily be used for the cash consideration for the acquisition of Kiavi, as well as for general corporate purposes and related issuance expenses. The note issuance will be jointly guaranteed by certain subsidiaries and will be privately placed to qualified institutional investors, without public registration, and the completion remains uncertain. In addition, Figure will acquire the AI real estate lending platform Kiavi for $717 million, and Figure expects that Kiavi will add over $7 billion in annual transaction volume.