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Figure Technology Solutions (FIGR), the blockchain-native marketplace for tokenized loans, began a $600mn private offering of senior notes due 2031 on 6 Jul, converting a bridge loan into permanent debt to bankroll its move deeper into real-estate lending. Its shares fell despite a forecast-beating quarter, closing at $31.05 on 7 Jul, roughly 9% below the highs held just before the announcement, as investors weighed the new debt. In premarket trading on 8 Jul at 13:00UTC, FIGR shares were trading at $31.00.