IPO price will be between $28.00 and $31.00 per share

IPO price will be between $28.00 and $31.00 per share

Figma, the collaborative design platform, has announced an increased price range for its proposed Initial Public Offering (IPO). The company has applied to list its Class A common stock on the New York Stock Exchange under the ticker symbol "FIG." The new price range for Figma's IPO is between $30 and $32 per share, up from the previously announced range.

The IPO will consist of 12,472,657 shares of Class A common stock offered by Figma and 24,464,423 shares of Class A common stock offered by certain existing stockholders. Additionally, the underwriters have been granted a 30-day option to purchase up to an additional 5,540,561 shares to cover over-allotments at the initial public offering price, less underwriting discounts and commissions. Morgan Stanley, Goldman Sachs & Co. LLC, Allen & Company LLC, and J.P. Morgan are acting as joint lead book-running managers for the proposed offering, with BofA Securities, Wells Fargo Securities, and RBC Capital Markets also participating as book-running managers [1].

The proceeds from the IPO will be used for various purposes, including capital expenditure, debt repayment, and technology upgrades. Figma's platform, which has evolved from a design tool to a connected, AI-powered platform, aims to streamline the design and product development process for teams around the world. With over 9,500 completed projects and exports to 22 countries, Figma has established itself as a leader in the digital product development space [2].

The increased IPO price range reflects Figma's strong market position and growth prospects. The company's recent financial performance has shown steady revenue growth and profitability, making it an attractive investment opportunity. However, investors should carefully consider the company's fundamentals and market conditions before making any investment decisions.

References:
[1] https://www.figma.com/blog/increased-ipo-price-range/
[2] https://economictimes.indiatimes.com/markets/ipos/fpos/mb-engineering-ipo-subscribed-2-on-day-1-check-gmp-price-band-and-other-key-details/articleshow/122989482.cms