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Alex Chen
Meridian Capital
Good morning, Alex
Tuesday, 22 July S&P 500 +0.4% NASDAQ +0.7% 10Y 4.21%
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Orbit will assemble the companies, filings, models and history for this project into one living workspace.
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Adobe ×
Figma ×
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≈ 42 sources · under 30s
Assembling your workspace
Gathering context for Adobe acquires Figma
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Adobe acquires Figma
M&A · Software
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Adobe acquires Figma
LiveContinuously maintained · updated 12m ago
Daily briefConfidence · Medium
Since yesterday, Figma filed an amended S-1 with revised deal terms, and the European Commission extended its Phase II review into Q3. I updated the accretion model — pro-forma EPS now moves +3.2%. Regulatory approval probability holds near 60%.
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62%
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Base case
Deal closes in Q4 with minor remedies, accretive by year two. Downside: it breaks and Figma trades standalone near $18B EV.
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Critical insightsView all
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What changed in the latest filing?
Three new risk sections on EU/UK remedies; headline price revised to $20B.
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ESC
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