IPOs

The opening trades were at $11 higher than what Figure priced the initial public offering, and in early action, the stock has ranged from $32 to $37 per share.

The company valued its 31.5 million share common stock sale at $25 per share, higher than the last announced expected range of between $20 and $22.

Besides upsizing the IPO, Figure's announced its technology is supporting Longbridge Financial's senior-specific home equity line of credit rollout.

Figure Technology files for a $508M IPO, while co-founder Mike Cagney secures long-term control and a retention award tied to the company's growth.

The plan could value the government-controlled mortgage giants at some $500 billion or more and would involve selling between 5% and 15% of their stock.

Rithm Acquisition Corp. is selling 20 million units of combined stock and warrants for $10 each, with trading expected to begin on Feb. 27 on the NYSE.

The newly created entity, Rithm Acquisition, is a possible, albeit unlikely, way to finally take its NewRez mortgage lending business public.

Rithm Capital has been teasing an initial public offering of the mortgage banker for some time, and 2025 is likely to be the year, Keefe, Bruyette & Woods said.

FTS, an umbrella company for Figure's lending arm, has submitted a confidential draft registration statement with the SEC, a precursor for going public.

The Irvine, California-based senior housing and assisted living property firm opened Wednesday at $12.85, after it sold 56 million shares for $12 and closed at $13.22.