General World News

Figure Acquisition Corp. I plans merger with mortgage bank

Figure Acquisition Corp. I, a blank check company affiliated with fintech Figure Technologies, plans to merge with a warehouse lender and bank holding company to potentially bring blockchain technology to the financial institution.  

The special purpose acquisition company announced Friday that it signed a non-binding letter of intent with the privately held $3-5 billion asset holding company with nationwide residential mortgage lending and servicing operations.  

“We believe the proposed transaction provides a unique value creation opportunity by combining the bank’s sound balance sheet, nationwide footprint and seasoned management team with our team’s deep understanding of, and experience with, the application of technology details ⇒

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