Figure Technology, Kavi deal termination fee is $25M

Figure Technology Solutions, Inc. (Nasdaq: FIGR; OPEN: FGRS) has announced a definitive agreement to acquire Kiavi, an AI-powered lending platform for residential real estate investors, in a $717 million transaction. The deal includes a termination fee of $25 million, which is standard in complex financial transactions and serves as a financial safeguard for both parties in the event of a deal cancellation under specified conditions.

The acquisition will see Figure acquire Kiavi’s technology and operating platform, while a joint venture between Figure and Sixth Street will purchase Kiavi’s balance sheet assets. Kiavi specializes in short-term Residential Transition Loans (RTL) and long-term Debt Service Coverage Ratio (DSCR) loans, which align with Figure’s existing product portfolio and expand its addressable market.

The transaction is expected to add over $7 billion in annual first-lien volume to Figure’s marketplace and more than $100 million monthly to its Democratized Prime platform. Kiavi’s AI-driven platform is also expected to enhance Figure’s blockchain-native infrastructure, supporting its broader mission to tokenize real-world assets.

The deal is anticipated to reinforce Figure’s financial performance, with the Kiavi platform expected to operate at high margins and contribute to Figure’s reaffirmed 60% EBITDA margin target. The integration of Kiavi’s assets will also serve as the first use case for Figure’s Adaptor AI product, streamlining onboarding processes across its marketplace.

The transaction is subject to customary closing conditions and regulatory approvals. A conference call and webcast will be held on June 10, 2026, at 8:30 a.m. Eastern Time to discuss the deal in detail.