The IPO Buzz: Figma Increases IPO Price Range to $30-$32 Vs. $25-$28

Figma (FIG Proposed), a San Francisco-based design software maker, increased its IPO’s price range to $30.00 to $32.00 – up from $25.00 to $28.00 originally – in an S-1/A filing early today – Monday, July 28, 2025. Figma’s IPO is now set to raise about $1.15 billion – if the IPO is priced at $31.00, the mid-point of its new range. The deal’s size remained the same – at about 36.94 million shares. Under the original terms, Figma’s IPO was expected to raise about $978.83 million. Morgan Stanley, Goldman Sachs, Allen & Company and J.P. Morgan are leading the joint book-runners team, which includes BofA Securities, Wells Fargo Securities and RBC Capital Markets. Figma’s IPO is expected to price on Wednesday night, July 30, to trade Thursday, July 31, on the New York Stock Exchange. Figma’s IPO is happening about 19 months after Figma and software behemoth Adobe dropped their plans to pursue a merger after regulators balked at the proposal. Figma would have a market cap of about $15.11 billion, if the IPO is priced at its new mid-point of $31.00. Under the original terms, Figma was set to have a market cap of about $12.92 billion. Of the 36.94 million shares in the IPO, Figma is offering about 12.47 million shares and the selling shareholders are offering about 24.46 million shares. The company will not receive any proceeds from the sale of the selling shareholders’ stock. Figma (FIG Proposed) described its business in the prospectus: “Every day, billions of people around the world use apps, websites, and other digital experiences that are made in Figma. They’re looking up directions on Google Maps; requesting rides with Uber; checking in for flights on JetBlue; streaming shows on Netflix; learning languages with Duolingo; asking questions of Claude; connecting on LinkedIn; buying goods on Mercado Libre; or booking stays and experiences with Airbnb,” Figma said in the prospectus. Figma is not profitable, according to the prospectus: Net loss of $673.7 million on revenue of $820.98 million for the 12 months that ended March 31, 2025. (For more information about these companies, please check the IPO Calendar and the individual IPO Profiles found on the IPOScoop.com  website.) Note: Never trade on proposed symbols. They have been known to change and you might buy something on the OTC Bulletin Board. To see what time the NASDAQ IPOs are expected to trade, please log in to: NASDAQTrader.com then scroll down to IPO Message. Disclosure: Nobody on the IPOScoop.com staff has a position in any stocks mentioned above, nor do they trade or invest in IPOs. The IPOScoop.com staff does not issue advice, recommendations or opinions. Disclaimer: A SCOOP Rating (Wall Street Consensus of Opening-day Premiums) is a general consensus taken, at press time, from Wall Street and investment professionals concerning how well an IPO might perform when it starts trading. The SCOOP Rating does not reflect the opinions of anyone associated with IPOScoop.com. The SCOOP ratings should not be taken as investment advice. The rating merely reflects the opinion of the professionals at the time of publication and the rating is subject to last-minute changes due to market conditions, changes in a specific offering and other factors, such as changes in the proposed offering terms and the  shifting of investor interest in the IPO. The information offered is taken from sources we believe to be reliable, but we cannot guarantee the accuracy.