Figure Acquisition Corp. I
FACA
New York Stock Exchange10.04
USD
-0.01
- -
CIK
0001839550
Return %
Stock
S&P500
1Y
2.45
26.84
3Y
0.10
77.03
5Y
0.10
80.55
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- CEO
- Christopher Daniel Davies
- Sector
- Financial Services
- Industry
- Shell Companies
- Address
- 650 California Street San Francisco CA United States of America 94108
- CIK
- 0001839550
- Website
- figureacquisitioncorpa.com
- Similar Companies
- Business
- Figure Acquisition Corp. I is a special purpose acquisition company (SPAC) incorporated in Delaware, founded to pursue mergers, capital stock exchanges, asset acquisitions, or reorganizations primarily within the financial technology and financial services sectors. The company focuses on identifying and combining with businesses that leverage technology to transform financial services. It operates by raising capital through an initial public offering to fund such acquisitions. Figure Acquisition Corp. I notably announced a business combination intention with a large privately held warehouse lender and bank holding company with nationwide residential mortgage lending and servicing operations, marking a key strategic move to expand into mortgage banking and potentially integrate blockchain technology into traditional banking services. The firm also actively explores opportunities to expand digital funding capabilities through such strategic acquisitions. It has raised significant capital through its IPO and subsequent public offerings to support these initiatives and to capitalize on growth opportunities in fintech and lending markets. The company’s headquarters is in San Francisco, California. Figure Acquisition Corp. I operates predominantly within the United States financial services and fintech sector and serves institutional investors and partners involved in mortgage and lending platforms. The company continues to seek stockholder approvals for transaction extensions to complete its business combinations. Figure Acquisition Corp. I itself does not directly market products or services but acts as a financial vehicle to acquire and integrate firms with core offerings in financial technology, lending platforms, and mortgage services. Its latest major developments include signing a non-binding letter of intent to merge with a warehouse lender and bank holding company estimated to hold $3-5 billion in assets. This merger aims to combine the bank’s established balance sheet and operational footprint with Figure’s expertise in blockchain and financial technology, advancing a strategic goal to enhance regulated financial services with innovative technology. The transaction represents a substantial strategic shift seeking to bridge traditional banking with emerging fintech solutions. As a SPAC, Figure Acquisition Corp. I’s primary function is to identify, acquire, and merge with companies in rapidly growing fintech and financial service sectors, leveraging capital markets to accelerate growth and innovation in these areas. It is affiliated with Figure Technologies, a blockchain-based lending company established in 2018 and founded by Mike Cagney, which offers consumer credit marketplaces, loan origination services, home equity lines of credit (HELOCs), mortgage refinancing, and crypto-backed loans utilizing the Provenance Blockchain. While Figure Technologies operates these services and products, Figure Acquisition Corp. I facilitates capital raising and mergers to support such fintech advancements.