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Figure Acquisition Corp. I (FACA)

Figure Acquisition I currently trades with the ticker symbol FACA.U
Stock Price: $10.65 USD -0.07 (-0.65%)
Updated Mar 2, 2021 4:00 PM EST - Market closed
Figure Acquisition Corp. I
Country United States
Founded 2020
IPO Date Feb 19, 2021
Industry Blank Checks / SPAC
CEO Christopher D. Davies

Contact Details

Address:650 California Street, Suite 2700
San Francisco, CA 94108
United States
Phone (628) 210-6937

Stock Information

Ticker Symbol FACA
Exchange NYSE
Reporting Currency US Dollars
IPO Price $10.00
CIK Code 1839550
Employer ID 85-4326385

Company Description

Figure Acquisition I is a newly incorporated blank check company incorporated for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.

We are sponsored by Fintech Acquisition LLC, which is an affiliate of Figure Technologies, Inc. Figure is a technology company offering financial solutions leveraging blockchain, artificial intelligence, and advanced analytics.

Established in 2018, Figure has raised over $220 million in funding from leading early stage and corporate venture investors. We intend to pursue exceptional opportunities in the financial technology and financial services sector.

In particular, we seek to acquire a business that can benefit from leveraging Figure’s technology platform built on Provenance blockchain. Provenance blockchain is a blockchain with demonstrated value optimizing asset origination, asset financing, asset sales, securitization, investment fund services, banking, and payments.

In the context of securitization, Provenance blockchain supported the first securitization backed by loans originated, serviced, financed, and sold entirely on the blockchain.

The aggregate benefit to all parties of this securitization (e.g., originator, sponsor, servicer, loan buyer) totaled over 100 basis points in reduced costs, representing potential savings of over $30 billion to the $3 trillion annual securitization market.

Key Executives

NamePosition
Michael CagneyChairman of the Board of Directors
Christopher D. DaviesChief Executive Officer and Director
Asiff HirjiPresident
Thomas J. MilaniChief Financial Officer