Crypto stock surges on $30M share repurchase announcement

Figure Technology Solutions' plan to conduct a secondary stock offering *and then* immediately buy back $30 million in shares using existing cash is a perplexing financial strategy. It seems contradictory to raise capital by selling shares only to spend existing cash buying them back, suggesting either profound inefficiency or a hidden agenda. Is this truly a sound use of company funds, or does it serve another, less obvious purpose?
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