PITTSBURGH — A Pittsburgh real estate lender powered by AI is being bought by a publicly traded blockchain-native capital marketplace for tokenized assets in a $717 million transaction.
Figure Technology Solutions (NASDAQ:FIGR) said it has a definitive agreement to acquire Kiavi. The transaction, announced on June 10, includes the purchase of Kiavi’s balance sheet assets by a joint venture between Figure and international investment firm Sixth Street, which is buying loans off Kiavi’s balance sheet. The deal is expected to close pending regulatory and other approvals.
Figure, on July 9,announced the pricing of a private offeringof senior notes expected to result in about $587.5 million in net proceeds that the company intends to use to fund the cash consideration payable in connection to the acquisition of Kiavi. The closing of the issuance is expected to occur on July 14, subject to customary closing conditions.
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