RWA's first stock figure plans to raise $526 million through its initial IPO, with a valuation exceeding $4 billion

ChainCatcher news, RWA's first stock Figure plans to raise $526 million through an initial public offering (IPO), with a valuation exceeding $4 billion, joining the wave of listings by blockchain companies such as Circle, Bullish, and Gemini.

Regulatory documents submitted by Figure on Tuesday indicate plans to issue 21.5 million shares at a price of $18 to $20 per share, with an expected issuance of 4.9 million shares aimed at existing shareholders. At the upper end of this price range, the IPO would value the company at approximately $4.3 billion. Figure secretly submitted its listing application to regulators last month and disclosed its listing plans, with the latest documents showing that Figure plans to set the IPO pricing date on September 10.

Figure Technology Solutions (FTS), founded by SoFi co-founder and former CEO Mike Cagney, has always used blockchain as its backbone, reshaping the financial paradigm of mortgages and crypto-backed loans, unlike traditional financial institutions that follow conventional methods. Mike Cagney previously led SoFi to create a wave in the internet finance sector, and now he aims to disrupt the business models that traditional banks rely on once again using blockchain. He stated, "Funding validates our vision of redefining capital markets using blockchain technology, and we are also realizing true benefits by adopting blockchain in our lending and capital markets business."