Figure Technology Solutions, Inc. filed a Form 8-K with the SEC on September 1, 2026, reporting the completion of its acquisition of Kiavi, Inc., a Delaware corporation, pursuant to a previously announced merger agreement.

Key Highlights

  • Merger closed: Figure Technology Solutions completed its acquisition of Kiavi, Inc. on September 1, 2026.
  • Cash consideration: The company paid cash consideration, net of cash acquired, of approximately $590 million for Kiavi's technology platform and DSCR loans on Kiavi's balance sheet.
  • Funding source: The merger was primarily funded using net proceeds from $600 million aggregate principal amount of 8.500% Senior Notes due 2031, which closed on July 14, 2026.
  • Kiavi's status: Kiavi now survives as a wholly owned subsidiary of Figure Technology Solutions following the merger of Project Mason Merger Sub, Inc. into Kiavi.
  • Debt repayment: At closing, Figure repaid in full all outstanding obligations under Kiavi's Third Amended and Restated Credit Agreement, dated December 19, 2024.
  • Repurchase agreement terminated: Kiavi Funding, Inc. and Kiavi Funding Trust 2 terminated their Master Repurchase Agreement with Deutsche Bank AG, New York Branch, dated September 19, 2025, and all related liens were released.

Figure Technology Solutions Closes Kiavi Merger, Repays Acquired Debt

According to the filing, Figure Technology Solutions (NASDAQ:FIGR) completed its acquisition of Kiavi, Inc. on September 1, 2026, under the Agreement and Plan of Merger dated June 10, 2026. The parties to that agreement included the Company, Project Mason Merger Sub, Inc. as a wholly owned subsidiary, Kiavi, and Fortis Advisors LLC serving as the securityholder representative. The filing states that all closing conditions were satisfied or waived at or prior to closing.

The company disclosed that the merger consideration, net of cash acquired, was approximately $590 million, subject to customary adjustments for Kiavi's cash, indebtedness, transaction expenses, and operating net working capital. The assets acquired include Kiavi's technology platform and DSCR (Debt Service Coverage Ratio) loans on Kiavi's balance sheet. The filing notes the merger consideration was primarily funded through the net proceeds of $600 million aggregate principal amount of 8.500% Senior Notes due 2031, which had closed on July 14, 2026.

At the closing date, the company also repaid in full all outstanding obligations under Kiavi's Third Amended and Restated Credit Agreement, dated December 19, 2024, among Kiavi, U.S. Bank Trust Company, National Association, as paying agent, and the lenders party thereto. Additionally, Kiavi Funding, Inc. and Kiavi Funding Trust 2 terminated a Master Repurchase Agreement with Deutsche Bank AG, New York Branch, dated September 19, 2025. The filing states that upon such repayment and termination, all related financing documents were terminated and all liens securing those obligations were released. The filing notes that forward-looking statements contained in the report are the company's own and are subject to its cautionary language regarding risks and uncertainties.

What Was Disclosed

Figure Technology Solutions reported the September 1, 2026 closing of its Kiavi acquisition, including approximately $590 million in net cash consideration, the funding mechanism via Senior Notes, and the concurrent repayment and termination of Kiavi's existing credit and repurchase facilities.