Figma’s Dylan Field Will Cash Out About $60m In Ipo, With Index, Kleiner, Greylock, Sequoia All Selling, Too

When Figma announced its first hoped-for value scope connected Monday ($25-$28), it besides revealed an different determination for its highly anticipated IPO. 

It will let existing shareholders to waste much shares than nan institution plans to sell, by a precocious ratio. The institution plans to connection astir 12.5 cardinal shares. Yet existing shareholders will beryllium allowed to rate retired of astir 24.7 cardinal shares, it said.

In addition, should this IPO beryllium arsenic basking arsenic everyone thinks it will be, existing shareholders will get nan action to sell, collectively, up to 5.5 cardinal much shares.

Figma laminitis CEO Dylan Field has disclosed that he plans to waste 2.35 cardinal shares. At nan midrange he’ll beryllium cashing retired of complete $62 million. (That mightiness beryllium a overmuch higher number if nan IPO prices supra $28, too.)

Even pinch that sale, he will still ain an tremendous number of shares and power nan company. He will clasp 74% of nan voting authorities aft nan IPO. This is acknowledgment to supervoting authorities of 15 votes per stock for nan Class B banal he controls, positive nan correct to ballot nan Class B shares of his co-founder, Evan Wallace, nan company says successful its S-1.

Figma’s biggest task investors are each cashing retired immoderate shares, arsenic well, including Index, Greylock, Kleiner Perkins, and Sequoia. Should nan request beryllium location for nan over-allotment, they will rate retired 1.7 cardinal to 3.3 cardinal shares apiece. That should let them to return immoderate rate to their investors successful this liquidity-starved task market.

It should beryllium noted, though, that each of these investors is keeping nan lion’s stock of their Figma holdings. One measurement to construe this mostly secondary waste is that if nan institution hadn’t opened up stock income to existing investors, it mightiness not person had capable shares to meet nan demand.

As you mightiness expect, nan institution will not make money from nan shares its stockholders sell. But should it value supra its announced scope (as often happens pinch basking IPOs), Figma will raise more, arsenic will its shareholders.

Prior to pricing, IPO experts expected Figma to waste astir $1.5 cardinal worthy of stock. Should it value supra scope and transcend that, Figma would beryllium nan biggest IPO of 2025 to date. The IPO could hap adjacent week, truthful we shall soon see. Figma declined further comment.