Figure Plans to Issue $600 Million Senior Notes for Kiavi Acquisition Financing

According to Globenewswire, Nasdaq-listed blockchain financial platform Figure Technology Solutions announced plans to raise $600 million through the issuance of senior secured notes, subject to market conditions. The proceeds from this financing will primarily be used for the cash consideration in the acquisition of Kiavi, as well as for general corporate purposes and related issuance expenses. The notes will be guaranteed by certain subsidiaries of Figure and privately placed to qualified institutional investors, without public registration. The completion of the issuance remains uncertain. Additionally, Figure plans to acquire AI-powered real estate lending platform Kiavi for $717 million. Figure expects Kiavi to contribute over $7 billion in annual transaction volume.