PANews reported on September 12th that Figure Technology Solutions Inc. completed a $ 787.5 million IPO on the Nasdaq, with its stock price surging over 44% after opening. The stock closed up 24% at $ 31.11 , above its IPO price of $25 per share. The company, which uses blockchain technology to provide lending services, achieved net profits of $ 29.1 million and revenue of $ 190.6 million in the first half of the year. The IPO attracted over 25 times the subscription price, with retail investors receiving a significant allotment. Founded by former SoFi CEO Mike Cagney , Figure has already issued over $ 16 billion in loans using blockchain technology.