FIGR — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-08-14

• The accompanying Management’s Discussion and Analysis of Financial Condition and Results of Operations gives effect to certain voluntary reclassifications, a voluntary change in accounting principle, and immaterial error corrections made to the previously reported Condensed Consolidated Financial St…

• On June 10, 2026, we entered into an Agreement and Plan of Merger (the “Merger Agreement”), to acquire Kiavi, Inc., a Delaware corporation (“Kiavi”), a market leading AI-powered lending platform for residential real estate investors used to buy, renovate, and resell properties.

• Under the terms of the Merger Agreement, at the closing of the Merger (the “Closing”), we will pay an aggregate of approximately $532.4 million in cash to Kiavi equity holders, subject to customary purchase price adjustments set forth in the Merger Agreement, including for Kiavi's cash, indebtedness…

• On July 14, 2026, we closed a private offering of $600.0 million principal amount of 8.500% Senior Notes due 2031 (the “Notes”). The net proceeds from the offering were $586.5 million. We intend to utilize the net proceeds from the offering to fund the cash consideration payable in connection with t…

• Concurrently with, and as a result of the issuance of the Notes, we terminated the Bridge Loan Facility that was entered into concurrent with the Merger Agreement. Refer to “Note 14—Subsequent Events” in the Condensed Consolidated Financial Statements for further information regarding the issuance o…

Text removed vs the prior filing · source: 10-Q · 2026-05-15

• In February 2026, we launched the On-Chain Public Equity Network (“OPEN”), a blockchain-based network designed to modernize the underlying infrastructure that supports the issuance, trading, custody and lending of public equity securities.

• OPEN enables companies to issue their equity natively on the Provenance Blockchain and make it available for secondary market trading on our ATS. OPEN is designed to reduce reliance on traditional centralized market infrastructure and to provide new capabilities for public companies and shareholders…

• We support frictionless two-way exchangeability between our securities issued on OPEN and our listed Class A common stock, a capability that we expect to make available to future OPEN issuers. This exchangeability is intended to promote liquidity and prices near par between blockchain securities and…

• In February 2026, the Company successfully completed a secondary public offering of 4,375,000 shares of its Series A Blockchain Common Stock ("Blockchain Stock"). The selling stockholders in the offering agreed to sell 4,687,500 shares of Class A common stock to the underwriters. The Company did not…

• with the offering, the Company repurchased 312,500 of our Class A common stock, subsequently held in treasury, that were subject to the offering at an aggregate amount of approximately $10 million at $32.00 per share.

Text added vs the prior filing · source: 10-Q · 2026-08-14

• On June 11, 2026, Michael Tannenbaum, the Company's Chief Executive Officer, entered into a new trading plan intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the Exchange Act for the sale of up to 60,315 shares of the Company's Class A common stock until February 18, 20…

• On June 16, 2026, Horsley Capital Partners LLC, an entity for which the beneficial owner is Adam Boyden, a member of the Company’s Board of Directors, entered into a new trading plan intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the Exchange Act for the sale of up to…

Text removed vs the prior filing · source: 10-Q · 2026-05-15

• On May 14, 2026, the Board of Directors of the Company approved an amendment and restatement of its 2025 Incentive Award Plan (as amended and restated, the “2025 Plan”) to, among other things, eliminate automatic double-trigger vesting for awards assumed in connection with a Change in Control (as de…

• Additionally, on May 14, 2026, the Company entered into a letter agreement (the “Letter Agreement”) with Todd Stevens, its Chief Capital Officer, providing for his eligibility for severance equal to 12 months of continued base salary payments in connection with a termination by the Company without C…

• The Company also approved, on May 14, 2026, the following treatment for any unvested equity-based awards held by certain key employees, including Michael Tannenbaum (our Chief Executive Officer), Macrina Kgil (our Chief Financial Officer) and Todd Stevens, in connection with a “change in control” (a…

• The description of the 2025 Plan and Letter Agreement do not purport to be complete and are subject to and qualified in their entirety by reference to the 2025 Plan and the Letter Agreement, which are filed as Exhibits 10.1, and 10.2, respectively, to this Quarterly Report on Form 10-Q.

• No officer, as defined in Rule 16a-1(f), or director adopted or terminated a “Rule 10b5-1 trading arrangement” or a “non-Rule 10b5-1 trading arrangement,” as defined in Regulation S-K Item 408, during the three months ended March 31, 2026.