When Figma announced the original desired price range on Monday ($ 25-28), it also revealed an unusual decision on the highly expected IPO.
It allows existing shareholders to sell more shares than the company intends to sell high. The company intends to offer about 12.5 million shares. Yet current shareholders receive cash in nearly 24.7 million shares, It said.
In addition, if this IPO is as hot as everyone thinks it is, current shareholders will be able to sell together, up to 5.5 million more shares.
Dylan Field, CEO of Figma’s founder, has revealed that it intends to sell 2.35 million shares. In the city center, he earns more than $ 62 million. (It may be much greater if IPO prices are also over $ 28.)
Even with that sales, he still has a huge number of shares and manages the company. He has 74% of the voting rights after IPO. This is due to the 15-class B-per share voting rights and his founder Evan Wallace shares voting rights in Class B shares According to the company in the S-1.
Figma’s biggest business investors are also some shares such as directory, Greylock, Kleiner Perkins and Sequoia. If there is extra demand there, they will finance 1.7 million 3.3 million shares per piece. This should be allowed to return them to their investors in this liquidity-hungry business market.
However, it should be noted that each of these investors holds the lion’s share of their figma ownership. One way to interpret this, to a large extent, secondary sales is that if the company had not opened the share sales to existing investors, it may not have had enough shares to satisfy demand.
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As you may expect, the company does not earn money from shares sold by shareholders. But if that price is above its reported area (as is often the case with hot listings), Figma raises more, as well as its shareholders.
Before pricing, IPO experts expected Figman to sell a share worth about $ 1.5 billion. If that price is above and exceeds the area, Figma would be the biggest IPO 2025 so far. IPO can happen next week, so we’ll see soon. Figma rejected the additional comment.
