When Figma introduced its preliminary hoped-for worth vary on Monday ($25-$28), it additionally revealed an uncommon resolution for its extremely anticipated IPO.
It can permit current shareholders to promote extra shares than the corporate plans to promote, by a excessive ratio. The corporate plans to supply about 12.5 million shares. But current shareholders shall be allowed to money out of almost 24.7 million shares, it stated.
As well as, ought to this IPO be as sizzling as everybody thinks it is going to be, current shareholders will get the choice to promote, collectively, as much as 5.5 million extra shares.
Figma founder CEO Dylan Subject has disclosed that he plans to promote 2.35 million shares. On the midrange he’ll be cashing out of over $62 million. (That may be a a lot larger quantity if the IPO costs above $28, too.)
Even with that sale, he’ll nonetheless personal an infinite variety of shares and management the corporate. He’ll maintain 74% of the voting rights after the IPO. That is due to supervoting rights of 15 votes per share for the Class B inventory he controls, plus the best to vote the Class B shares of his co-founder, Evan Wallace, the corporate says in its S-1.
Figma’s greatest enterprise buyers are all cashing out some shares, as properly, together with Index, Greylock, Kleiner Perkins, and Sequoia. Ought to the demand be there for the over-allotment, they may money out 1.7 million to three.3 million shares apiece. That ought to permit them to return some money to their buyers on this liquidity-starved enterprise market.
It ought to be famous, although, that every of those buyers is holding the lion’s share of their Figma holdings. One technique to interpret this largely secondary sale is that if the corporate hadn’t opened up share gross sales to current buyers, it may not have had sufficient shares to satisfy the demand.
Techcrunch occasion
San Francisco
|
October 27-29, 2025
As you would possibly anticipate, the corporate is not going to become profitable from the shares its stockholders promote. However ought to it worth above its introduced vary (as typically occurs with sizzling IPOs), Figma will increase extra, as will its shareholders.
Previous to pricing, IPO consultants anticipated Figma to promote round $1.5 billion price of inventory. Ought to it worth above vary and exceed that, Figma can be the most important IPO of 2025 up to now. The IPO may occur subsequent week, so we will quickly see. Figma declined additional remark.
