The price for design software developer Figma surged more than 250% on Thursday to close at over $117 per share after raising over $1.2 billion in an IPO, well over three times the $30-$32 range the company estimated in SEC filings earlier this week—making its 33-year-old CEO Dylan Field a billionaire.

The company secured a valuation of $19.34 billion, just shy of the $20 billion it was set to fetch in a scrapped acquisition by Adobe in 2023.

Figma Inc. shares are expected to debut in the $105–$110 range, following the company’s successful $1.2 billion fundraising effort in one of the most closely watched US IPOs this year. That indication represents a possible uptick of as much as 233% above the $33-per-share offering price.