Enterprise Design startup Figma has joined the next step in IPO Journey.
Figma announced on Monday that it will launch an IPO roadshow. The company plans to offer more than 36 million shares of Class A shares, which are expected to be priced between $25 and $28 per share. The offer will feature a mix of primary and secondary stocks, allowing the company to raise approximately $1 billion.
The company is scheduled to pricing its IPOs the week of July 28th.
According to Renaissance Capital, if the company prices stocks in the middle of its range, it will earn a market value of $15.9 billion.
The valuation is less than $20 billion that Adobe offered to acquire Figma in September 2022, but it is the company’s last private valuation of over $12.5 billion, according to data from Pitchbook.
Figma originally submitted its intention to be made public in April.
The company was founded in 2012 by Dylanfield and Evan Wallace. To date, it has raised more than $740 million from venture capital from companies including Andreessen Horowitz, General Catalyst, and Sequoia.
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