Design platform Figma files for U.S. IPO

Investing.com -- Cloud-based collaborative web design platform Figma filed for an initial public offering in the United States on Tuesday.

The company plans to list on the New York Stock Exchange under the ticker symbol "FIG".

Figma didn’t disclose the proposed sizing or pricing range for the offering. According to the filing, the company had revenue of $228.2 million for the three months ended March 31, with a net income of $44.9 million during the same period.

Morgan Stanley, Goldman Sachs, Allen&Co and J.P. Morgan are serving as the lead underwriters for the IPO. Additional underwriters include BofA Securities, Wells Fargo Securities, RBC Capital Markets, William Blair, and Wolfe | Nomura Alliance.

This IPO filing comes more than a year after Adobe (NASDAQ: ADBE) abandoned its $20 billion acquisition of Figma due to regulatory challenges in Europe and the United Kingdom.

You May Also Be Interested In

• BofA Securities Assumes Adobe (ADBE) at Underperform, 'Valuation is tempting, but no catalyst in sight'
• Target stock pops 2.8% as Wall Street applauds store traffic, new "Shop-in-Shops"
• Standard Nuclear seeks to raise up to $383.3M in US IPO