Figure (FIGR) Technology Solutions announced the filing of a registration statement on Form S-1 with the SEC relating to the proposed offering of its Series A Blockchain Common Stock. The blockchain stock will be a blockchain-native class of equity securities, will trade on Figure’s alternative trading system, or ATS, and will be convertible into shares of Figure’s Class A common stock on a one-for-one basis. Holders of the blockchain stock will be able to borrow against and lend the blockchain stock out on Democratized Prime, a blockchain-based decentralized finance protocol on the Provenance Blockchain. The offering will be non-dilutive to existing shareholders of Figure. In connection with the offering, shares of Class A common stock will be sold by existing investors to Goldman Sachs & Co., Morgan Stanley and Cantor, as underwriters.
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