On June 30, Figure Technology Solutions rose 5.82% in regular trading, trading at $28.69/share, with turnover of $11.26 million. The rebound was driven by the chairman's clarification on financing costs related to the company's $717 million acquisition of AI-powered real estate lending platform Kiavi, which alleviated core market concerns over the financial burden.
The company announced the Kiavi acquisition on June 10, with a total purchase price of $717 million. While the deal is expected to add over $7 billion in new annual first-lien volume to the Figure Connect marketplace, the high consideration combined with a more than 60% decline from the January all-time high of $76.57 had weighed heavily on sentiment. Just one day prior, shares fell 5.1% to $25.71, approaching the 52-week low of $25.01. The chairman's explicit statement addressed financing sustainability, triggering a short-term sentiment recovery and technical rebound from near support levels.
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