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Figure Acquisition Corp. I announced that stockholders approved an early wind-up of the company, allowing for the redemption of all outstanding Class A common stock. This decision changes the termination date from February 23, 2023, to December 30, 2022. Stockholders opting for redemption will receive around $10.05 per share. The NYSE plans to delist the company's securities following the redemption. After December 30, operations will cease except for winding up. This early redemption impacts both stock performance and investor returns significantly.
Figure Acquisition Corp. I (FACA) is exploring a merger with a large nationwide warehouse lender and bank holding company. A non-binding letter of intent has been signed, pointing to a strategic partnership aimed at leveraging technology within regulated financial services. The bank holds $3-$5 billion in assets and is seen as a solid match for FACA's vision. The company is also seeking stockholder approval to extend the deadline for its initial business combination from February to August 2023, allowing more time for the deal’s completion.
Figure Acquisition Corp. I announced that starting April 12, 2021, holders of its 28,750,000 units from the IPO can separately trade Class A common stock and warrants. The units were initially sold on February 23, 2021, including an additional 3,750,000 from the underwriters’ over-allotment. Separated shares will trade on NYSE under symbols ‘FACA’ and ‘FACA WS’, while unsold units continue under ‘FACA.U’. The announcement does not constitute an offer to buy or sell securities, and any prospectus can be accessed for free on the SEC’s website or through Citigroup Global Markets Inc.
Figure Acquisition Corp. I has successfully concluded its initial public offering, offering 28,750,000 units at $10.00 each, yielding $287.5 million in gross proceeds. Each unit comprises one Class A common stock and one-fourth of a redeemable warrant. The company aims to pursue mergers and acquisitions primarily in the financial technology sector. The units are traded on the NYSE under the symbol FACA.U, with plans for separate listings for the Class A stock and warrants. Citigroup Global Markets served as the offering's sole book-running manager.
Figure Acquisition Corp. I has priced its initial public offering at $10.00 per unit, totaling 25,000,000 units. The offering is expected to commence trading on NYSE under the symbol 'FACA.U' on February 19, 2021. Each unit comprises one share of Class A common stock and one-fourth of a redeemable warrant, enabling stock purchase at $11.50 per share. The company aims to pursue mergers or acquisitions in the financial technology sector. Citigroup Global Markets is the sole book-runner, with a closing date projected for February 23, 2021.
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