Figure plans to issue $600 million in senior notes to finance the acquisition of Kiavi.

ME News reports that on July 6 (UTC+8), Nasdaq-listed blockchain financial platform Figure Technology Solutions announced plans to raise $600 million through the issuance of senior priority notes, subject to market conditions. The proceeds from this financing will be primarily used for the cash consideration to acquire Kiavi, as well as for general corporate purposes and related issuance expenses.

The notes issuance by Figure will be jointly guaranteed by certain subsidiaries and offered to qualified institutional investors in a private placement without public registration; final completion remains uncertain.

Additionally, Figure will acquire AI real estate lending platform Kiavi for $717 million, with Figure expecting Kiavi to add over $7 billion in transaction volume annually. Upon completion of the transaction, Kiavi CEO Arvind Mohan will join Figure as Chief Commercial Officer. (Source: PANews)