Pagaya Technologies Ltd. Announces 1-for-15 Reverse Stock Split
Ticker: PGYWW · Form: 6-K · Filed: Mar 4, 2024 · CIK: 1883085
| Field | Detail |
|---|---|
| Company | Pagaya Technologies Ltd. (PGYWW) |
| Form Type | 6-K |
| Filed Date | Mar 4, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: reverse-split, compliance, stock-exchange
TL;DR
Pagaya doing a 1-for-15 reverse split effective March 5th to stay listed.
AI Summary
On March 4, 2024, Pagaya Technologies Ltd. announced a reverse share split of its ordinary shares at a ratio of 1-for-15. This action, effective March 5, 2024, aims to adjust the number of outstanding shares and is intended to comply with stock exchange listing requirements.
Why It Matters
This reverse split is a strategic move to meet exchange listing requirements, potentially impacting the stock's trading price and perception.
Risk Assessment
Risk Level: medium — Reverse stock splits can sometimes signal underlying financial difficulties or be a precursor to delisting, although they can also be used to improve stock price perception.
Key Numbers
- 1-for-15 — Reverse Split Ratio (Adjusts the number of outstanding shares.)
Key Players & Entities
- Pagaya Technologies Ltd. (company) — Registrant
- March 4, 2024 (date) — Announcement date
- March 5, 2024 (date) — Effective date of reverse split
- 1-for-15 (ratio) — Reverse share split ratio
FAQ
What is the primary purpose of the reverse share split announced by Pagaya Technologies Ltd.?
The primary purpose is to comply with stock exchange listing requirements by adjusting the number of outstanding ordinary shares.
When was the reverse share split announced?
The reverse share split was announced on March 4, 2024.
What is the ratio of the reverse share split?
The reverse share split is at a ratio of 1-for-15.
When will the reverse share split become effective?
The reverse share split will be effective as of March 5, 2024.
What type of shares are affected by this reverse split?
The reverse split affects Pagaya Technologies Ltd.'s ordinary shares.
Filing Stats: 574 words · 2 min read · ~2 pages · Grade level 11.3 · Accepted 2024-03-04 08:29:40
Filing Documents
- form6-kxreversesharesplit.htm (6-K) — 15KB
- amendedarticlesofassocia.htm (EX-99.1) — 156KB
- pagayaannounceseffective.htm (EX-99.2) — 6KB
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- amendedarticlesofassocia038.jpg (GRAPHIC) — 104KB
- pagayaannounceseffective001.jpg (GRAPHIC) — 197KB
- pagayaannounceseffective002.jpg (GRAPHIC) — 186KB
- 0001883085-24-000017.txt ( ) — 14143KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. PAGAYA TECHNOLOGIES LTD. Date March 4, 2024 By s Gal Krubiner Name Gal Krubiner Title Chief Executive Officer