kiavi

According to Globenewswire, the Nasdaq-listed blockchain financial platform Figure Technology Solutions announced that it will raise $600 million through the issuance of senior secured notes, with the specific issuance depending on market conditions. The proceeds from this financing will primarily be used for the cash consideration to acquire Kiavi, as well as for general corporate purposes and related issuance costs.The note issuance by Figure will be jointly guaranteed by some subsidiaries and will be privately placed to qualified institutional investors, without public registration, and there remains uncertainty regarding the final completion.In addition, Figure will acquire the AI real estate lending platform Kiavi for $717 million, and Figure expects Kiavi to add over $7 billion in transaction volume annually. After the transaction is completed, Kiavi's CEO Arvind Mohan will join Figure as Chief Business Officer.

Figure Technology Solutions announced that it will acquire the AI real estate loan platform Kiavi for a total price of $717 million; at the same time, Figure's joint venture with Sixth Street will acquire the loan assets on Kiavi's balance sheet.Figure stated that Kiavi is a leading platform in the U.S. residential transition loan (RTL) sector, and this transaction is expected to add over $7 billion in first mortgage scale annually to the Figure Connect market, bringing over $100 million in asset flow monthly to its on-chain storage market, Democratized Prime.