Piper Sandler analyst Patrick Moley has maintained an Overweight rating for Figure Technology while lowering the price target to $65 from $75. The adjustment reflects a revised assessment of the company's valuation and market potential. Figure Technology is listed on NASDAQ under the ticker symbol FIGR. The analyst's rating and updated target price are based on an evaluation of the company's financial outlook and operational performance. This move follows a separate assessment by Keefe, Bruyette & Woods, which previously maintained an Outperform rating with a $45 target.

Figure Technology Solutions, Inc. announced the pricing of its previously announced private offering of $600 million in aggregate principal amount of its 8.500% senior notes due 2031. The notes are priced at 100% of the principal amount. The closing is expected to occur on July 14, 2026, subject to customary closing conditions, resulting in approximately $587.5 million in net proceeds after deducting initial purchasers’ discounts and commissions and estimated offering expenses.

Figure intends to use the net proceeds to fund the cash consideration for the acquisition of Kiavi, an AI-powered lending platform for residential real estate investors. The offering is not conditioned on the completion of the Kiavi Acquisition. If the acquisition does not occur, the net proceeds will be used for general corporate purposes and to pay fees and expenses related to the notes offering.

The notes will be guaranteed on a joint and several basis by certain of Figure’s domestic wholly-owned subsidiaries. The notes are exempt from the registration requirements of the Securities Act of 1933, as amended. The notes may only be offered to qualified institutional buyers under Rule 144A or outside the United States to non-U.S. persons in compliance with Regulation S.

Figure Technology Solutions operates as a blockchain-native capital marketplace, connecting origination, funding, and secondary market activity. The company and its partners have originated approximately $29 billion of home equity to date, making Figure’s ecosystem the largest non-bank provider of HELOCs. Figure has received AAA ratings from S&P and Moody’s on multiple loan securitizations, marking a first for blockchain finance.