Fintech firm FIGR targets $600 million in senior notes to acquire AI-powered lending platform Kiavi and cover corporate expenses.
Figure Technology Solutions Inc. (NASDAQ:FIGR) announced a private offering of $600 million in senior notes, exempt from Securities Act registration. The proceeds will fund its acquisition of Kiavi, an AI-driven lending platform for residential real estate investors, alongside general corporate purposes and transaction fees.
The offering is not contingent on completing the Kiavi acquisition and is restricted to qualified institutional buyers in the U.S. and non-U.S. persons outside the country. Notes will be guaranteed by certain domestic subsidiaries of FIGR.
FIGR operates a blockchain-based capital marketplace for loan origination and trading of tokenized assets, including consumer credit and digital products.