Simpson Thacher is representing the financing sources in providing $600 million of committed financing for the announced $717 million acquisition of Kiavi Inc. (“Kiavi”) by Figure Technology Solutions, Inc. (“Figure”).
Figure is a blockchain-native capital marketplace that seamlessly connects origination, funding and secondary market activity. More than 380 partners use its loan origination system and capital marketplace. Collectively, Figure and its partners have originated over $25 billion of home equity to date, among other products, making Figure’s ecosystem the largest non-bank provider of HELOCs. Kiavi is one of the nation’s largest non-bank lenders to residential real estate investors. Kiavi harnesses the power of data and technology to offer real estate investors a simpler, more reliable and faster way to access the capital they need to scale their businesses.
The Simpson Thacher team includes Justin Lungstrum, Michael Ratay, Win Lalley and Ariel Zaghi (Credit); David Azarkh, Evan Zuckerman, Alexander Grynszpan and Orly Levy (Capital Markets); Malik Ladhani, Avery Golombek and Sichen Zhang (M&A); Amanda Allexon and Dasha Kolyaskina (Financial Institutions); Kate Mirino and Tally Smitas (Intellectual Property); Michael Mann (Tax); and George M. Gerstein (ERISA). Summer associate Alexandra Costanzo also provided valuable assistance.