Figure Technology Solutions Completes Acquisition of Kiavi for ~$590M

What Happened

• Figure Technology Solutions, Inc. announced on September 1, 2026 that it completed its previously announced merger with Kiavi, Inc. under the Agreement and Plan of Merger dated June 10, 2026. Merger Sub merged into Kiavi, with Kiavi surviving as a wholly owned subsidiary.
• At closing the company paid approximately $590 million in net cash consideration (net of cash acquired) to acquire Kiavi’s technology platform and its DSCR loan portfolio. All closing conditions were satisfied or waived.

Key Details

• Merger closing date: September 1, 2026; Merger Agreement dated June 10, 2026.
• Merger consideration: approx. $590 million cash (subject to customary closing adjustments for cash, indebtedness, transaction expenses, and net working capital).
• Financing: primarily funded with net proceeds from Figure’s $600 million aggregate principal amount of 8.500% Senior Notes due 2031 (notes closed July 14, 2026).
• Related financings repaid/terminated at closing: full repayment under the Third Amended and Restated Credit Agreement (dated Dec. 19, 2024) and termination of the Master Repurchase Agreement with Deutsche Bank (dated Sept. 19, 2025); related liens released.

Why It Matters

• The acquisition expands Figure’s technology and DSCR loan platform and adds assets to its balance sheet. The transaction was financed largely with new high-yield senior notes, which increases long-term debt and fixed interest obligations recorded by the company.
• Investors should note the company replaced prior Kiavi financings (credit and repo facilities) at closing, and the deal remains subject to the customary integration risks and other factors described in Figure’s filings.