Figma Sets IPO Price Range At $25–$28: Retail Traders Eye Multi-Bagger Potential

Cloud-based design tool provider Figma has priced its proposed initial public offering (IPO) between $25 and $28 per share, according to an amended S-1 registration filed with the SEC late Monday.

The company said it would offer 12.47 million shares and selling shareholders another 24.46 million shares. It would not receive any proceeds from the sale by selling stockholders.

Net proceeds from the sale of shares by the company are expected to be $305.9 million, assuming an IPO price of $26.50 apiece.

On a fully diluted basis, Figma is valued at $16.5 billion, taking into account the high end of the range, the Financial Times reported.

San Francisco, California-based Figma stated that it anticipates utilizing the net proceeds from this offering, along with its existing cash reserves, to repay $330.5 million of outstanding indebtedness under the Revolving Credit Facility. The remaining net proceeds, if any, would be used for working capital and other general corporate purposes.

In the amended filing, Figma stated that its last-twelve-month (LTM) revenue totaled $821 million, representing a 46% year-over-year (YoY) increase. The company’s adjusted operating margin was at 18%.

Figma has applied for listing its common stock on the NYSE under the ticker symbol FIG. 

The IPO is managed by Morgan Stanley, Goldman Sachs, Allen & Company, and JPMorgan.

Figma was founded by Dylan Field and Evan Wallace in 2021. Once Adobe’s $20 billion acquisition target — a deal that fizzled due to antitrust concerns in Europe and the UK — the company is now betting big on its artificial intelligence (AI)‑driven design platform and collaborative growth.’

The company stated in Monday’s filing that its board has authorized the issuance of blockchain common stock, although it currently has no specific plans to issue blockchain tokens. 

Figma said it expects the registration statement to become effective on July 30.

On Stocktwits, the stream set up for Figma ahead of its listing showed an ‘extremely bullish’ sentiment among retail traders. The message volume on the stream was at an ‘extremely high’ level.

A watcher said they were definitely investing in the IPO. 

Another user said the stock would definitely multiply five to 10 times, citing its built-in AI and Bitcoin backing.

The Figma IPO follows public debuts by tech companies such as CoreWeave (CRWV) as the stock market pushes forward, undeterred by multiple headwinds. 

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