Overview

• Figma publicly filed its S-1 with the SEC for an NYSE listing under the ticker FIG.
• The company’s prospectus reports first-quarter revenue of $228.2 million, up 46% year-over-year, and net income of $44.9 million.
• Morgan Stanley, Goldman Sachs, Allen & Co. and J.P. Morgan are serving as lead underwriters for the offering.
• Figma intends to use proceeds from the IPO to reduce debt and boost investment in artificial intelligence.
• The IPO marks a strategic shift following UK antitrust authorities blocking Adobe’s $20 billion acquisition and awarding Figma a $1 billion termination fee.