Signs of depositing the subscription subscriptions for the Mike Cagney number to public markets

Figure Technology, a seven -year -based lending company, has applied to subscribe to the public subscription from the joint shares A on the Nasdaq Stock Exchange, with Goldman Sachs, Jeffrez, and Bofa Securities that act as major executives.

The number of shares offered and the price range has not been determined.

The figure says in the public subscription papers that its revenues increased by 22.4 % to 191 million dollars in the six months ending June 30, and that it had a profit of $ 29 million in the same period, compared to a loss of $ 13 million in the previous year.

Filt provides an opportunity to compete for the co -founder of Figure Mike Cagney, who previously built Sofi before leaving the personal financing platform in 2017 after sexual harassment allegations. Sofi became public in 2021 through the integration process for special purposes (SPAC), and was well achieved as a public company – its shares rose more than 200 % last year, and its revenues increased by 44 % in the second quarter of 2025.

Since its foundation in 2018, it has created the same number as one of the largest players in Blockchain, where more than 160 partners have been called for the loan construction system and the capital market. The shape claims that it is the largest provider not intended for home stock credit lines.

The company, founded by Cagney with his wife, is used by its wife, Blockchain, to accelerate it along the approvals on household shares, re -financing real estate mortgage, and student and personality loans.

In May, the number said that it was also expanding to lend to the cryptocurrency, as it signed a financing agreement with Victory Park Capital for what he described as the number of the first group of coding loans. This product allows asset owners borrowing against Bitcoin and Ethereum Holdings with loan ratios to a value of up to 75 %.

The conditions of this deal were not revealed with Victory Park.

Cagney has a history of ambitious organizational moves. As techcrunch I mentioned In late 2020, during the last days of the first Trump administration, the number submitted an application to obtain an American national bank charter that would allow it to accept unbelievable deposits that exceed 250,000 dollars from accredited investors while avoiding FDIC supervision and traditional federal reserves. This approach could have created a template for Fintech companies and other retail trading to obtain unconventional bank covenants and provide profitable financial products while avoiding this oversight, but the number withdrawn its request last year amid the challenges of the broader technology industry.

The company underwent major organizational leadership and changes in the meantime. In April 2024, the number was appointed Michael Tannabom, former director of operations at Brex, as CEO. TannenBauum previously worked with Cagney Caseber Sofi revenue.

In an unusual maneuver for companies, Cagney set out for shapes markets in early 2024, creating an independent exchange of digital assets for encryption trading, coding loans, and stablecoins. But after a little more than a year, in July, the number reflected the path and the two entities were returned together.

The company says the strategy puts it in a huge and growing chance in the asset symbol in the real world. (The real world asset code includes converting traditional assets such as mortgages, real estate, or loans-even art-to digital symbols that can be traded on Blockchain networks. Financial weight players such as Blackrock and JPMorgan are among those who have entered the space recently.)

It should be noted that this is not the first personality attempt for the public. The company was previously planning the stairs through the process of integration with SPAC called Figure Acquisition CorpBut the deal was canceled due to high interest rates and redemption rates, among other challenges. The empty check company was later removed from the New York Stock Exchange.

The shape, which includes its supporters of Apollo Global Management and Ribbit Capital, also failed to complete a Planned integration With the Homebridge Financial Services in 2022, citing organizational delay 10 months after the announcement of a draw.

Public subscription deposit is not surprising for industrial monitors. For one of them, the number – which raised $ 200 million was announced in 2021 with a rate of $ 3.2 billion – was announced – Weeks ago It has made a secret statement of public subscription. Moreover, the timing corresponds to an increasing wave of encryption companies that seek to obtain general lists, which are encouraged by the first very successful appearance of the Circle Internet Group in June, and the full support of the Trump administration for the cryptocurrency sector and Related legislation.

Sirkel shares rose more than 500 % in the first two weeks in the public market. Crypto Exchange Bullish added to the momentum More than weak On the first day of trading last week.

Friday, Gemini Winklevoss Twins’ Crypto Gemini was presented for the public subscription despite reporting 282.5 million dollars a net loss In the first half of 2025.