Johann Wilfred
Design software company Figma has made an S-1 filing on July 1, 2025, with the SEC as part of a proposed IPO, according to a company announcement.
The S-1 registration statement form showed that Figma holds investments in Bitcoin ETFs of $69.5 million as of March 31, 2025. On May 8, 2025, the board of directors approved a $30 million investment in Bitcoin. The company made a purchase of 30 million USDC, which will be reinvested into Bitcoin at a later date.
Figma has acknowledged the equity price risk attached to its Bitcoin ETF investments in the S-1 form, allocating the possibility of a 10% downward slide in price.
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“Changes in the fair value of this exchange-traded fund are impacted by the volatility of Bitcoin and changes in general economic conditions, among other factors. A hypothetical 10% decrease in the price of the Bitcoin exchange-traded fund would decrease the fair value of this investment as of March 31, 2025, by $7.0 million,” read the S-1 filing.
Figma’s unaudited financial figures for Q1, 2025, show company revenues of $228.2 million and a positive net income of $44.9 million.
IPO details yet to be revealed
The company plans to offer Class A common shares, but as of now, the number of shares or the size of the offering is not revealed.
Morgan Stanley, Goldman Sachs, Allen & Company, and J.P. Morgan will be the joint lead book runners, along with BoFA Securities, Wells Fargo Securities, and RBC Capital Markets as bookrunners.
While the proceeds have not been specifically earmarked for any purpose, Figma’s filing states the company may use funds for debt servicing, working capital, product development, capital expenditure, acquisition, investments such as money market funds, certificates of deposit, commercial paper, and U.S. government-guaranteed investments.
