Figma (FIG) Bounces Back With 278% Percent Jump on Market Debut

We recently published 10 Stocks Crushing With Whopping Double-Digit Gains. Figma, Inc. (NYSE:FIG) is one of the best-performing stocks on Thursday.

Newly listed Figma Inc. soared as high as 278 percent in its first day as a publicly traded company, on strong investor confidence.

During the session, Figma, Inc. (NYSE:FIG) soared to as high as $124.63 before early profit-taking persisted to end the day just up by 250 percent at $115.5.

At the close of the trading, the company was already valued at more than $45 billion.

Figma, Inc. (NYSE:FIG) initially planned to raise $1.2 billion from its IPO through the sale of nearly 37 million shares, comprised of 12.5 million new shares from the company and 24.5 million existing shares owned by certain shareholders.

In addition, some selling stockholders granted the underwriters a 30-day option to purchase up to an additional 5.5 million shares.

The IPO followed a terminated merger deal agreement with Adobe in 2023, under which the latter would have acquired the newly listed company for a mix of stock and cash consideration.

Although both parties believed in the merits and benefits of the merger, Adobe and Figma, Inc. (NYSE:FIG) mutually agreed to terminate the transaction based on a joint assessment that there was no clear path to receive necessary regulatory approvals from the European Commission and the UK Competition and Markets Authority.

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