Figma will start buying and selling on the New York Inventory Trade on Thursday in one of the anticipated IPOs of 2025. The IPO is 40-times oversubscribed, VCs confirmed to TechCrunch and Bloomberg beforehand reported.
Meaning demand for shares is 40 instances the variety of shares the corporate and its present traders are promoting. So it ought to shock nobody that Figma, which provides design software program, has priced its preliminary shares at $33 per share, above its beforehand introduced vary.
On Monday, the corporate stated its anticipated worth vary was $30 to $32, up from a beforehand introduced vary of $25 to $28. On the ultimate $33 worth, the providing raised $1.2 billion. Most of that cash goes to present shareholders who’re promoting about twice as many shares (including founder and CEO Dylan Field), as the corporate itself has provided.
The IPO worth values Figma at $19.3 billion, CNBC reports, close to the $20 billion worth Adobe would have paid earlier than its deal to purchase Figma fell aside in 2023 below stress from regulators.