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Get filing alertsFigure prices $600M senior notes at 8.500% to fund Kiavi acquisition
Filed July 10, 2026 · Period ending July 9, 2026 · ~1 min read
Key Changes
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Figure priced $600M of 8.500% senior notes due 2031 at par, expected to close July 14, 2026, generating ~$587.5M in net proceeds after fees.
Item 8.01 verify on EDGAR → -
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Proceeds will primarily fund the cash portion of Figure's Kiavi acquisition, with remainder for general corporate purposes; the notes offering is not contingent on closing the Kiavi deal.
Item 8.01 verify on EDGAR → -
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The notes will be guaranteed jointly and severally by certain of Figure's domestic wholly-owned subsidiaries, providing additional credit support.
Exhibit 99.1 view on EDGAR →
Summary
Figure Technology Solutions priced a $600 million senior notes offering at an 8.500% coupon, due 2031, sold at par in a private placement to institutional buyers. The offering is expected to close July 14, 2026, and will generate approximately $587.5 million in net proceeds after deducting underwriter fees and expenses. The notes will be guaranteed by certain domestic subsidiaries, strengthening the credit profile.
The primary use of proceeds is to fund the cash consideration for Figure's previously announced acquisition of Kiavi, an AI-powered residential real estate lending platform. Importantly, the debt offering is not contingent on completing the Kiavi acquisition — if that deal falls through, the proceeds will be redirected to general corporate purposes.
This structure means Figure will take on the debt and associated 8.500% interest expense regardless of whether the strategic acquisition closes. For shareholders, this represents a material increase in leverage and fixed obligations, with the strategic rationale tied to the success of the Kiavi integration.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jul 13, 2026 · How we verify