The private offering would also support general corporate purposes and related fees, while the company said the debt sale is not contingent on closing the Kiavi deal.
Figure Technology Solutions said it intends to offer $600 million of senior notes in a private placement exempt from Securities Act registration, with proceeds earmarked in part for the cash consideration tied to its planned acquisition of Kiavi, an AI-powered lending platform for residential real estate investors. The company said remaining proceeds would go toward general corporate purposes and fees and expenses related to the offering. Figure added that the notes sale is not conditioned on completion of the Kiavi Acquisition, and if the transaction does not close, the net proceeds would be used for general corporate purposes. The notes would be guaranteed on a joint and several basis by certain domestic wholly-owned subsidiaries and would be sold only to qualified institutional buyers under Rule 144A or to non-U.S. persons under Regulation S. Figure describes itself as a blockchain-native capital marketplace focused on tokenized assets, with more than 380 partners and over $25 billion of home equity originated with partners to date.