Pagaya Technologies Prices Share Offering

Ticker: PGYWW · Form: 6-K · Filed: Mar 18, 2024 · CIK: 1883085

Pagaya Technologies Ltd. 6-K Filing Summary
FieldDetail
CompanyPagaya Technologies Ltd. (PGYWW)
Form Type6-K
Filed DateMar 18, 2024
Risk Levelmedium
Pages2
Reading Time2 min
Key Dollar Amounts$90.0 m
Sentimentneutral

Sentiment: neutral

Topics: share-offering, capital-raise

TL;DR

Pagaya priced a 7.5M share offering on March 13th.

AI Summary

On March 13, 2024, Pagaya Technologies Ltd. priced an offering of 7,500,000 Class A Ordinary Shares. The offering was conducted under an underwriting agreement, details of which are provided in the filing.

Why It Matters

This share offering indicates Pagaya Technologies is raising capital, which could be used for expansion, debt repayment, or other corporate initiatives.

Risk Assessment

Risk Level: medium — Share offerings can dilute existing shareholders and signal a need for capital, which may indicate financial pressures or growth ambitions.

Key Numbers

  • 7,500,000 — Class A Ordinary Shares (Number of shares priced in the offering on March 13, 2024.)

Key Players & Entities

  • Pagaya Technologies Ltd. (company) — Registrant
  • March 13, 2024 (date) — Pricing date of share offering
  • 7,500,000 (dollar_amount) — Number of Class A Ordinary Shares offered

FAQ

What was the pricing date for the Pagaya Technologies Ltd. share offering?

The offering was priced on March 13, 2024.

How many Class A Ordinary Shares were offered by Pagaya Technologies Ltd.?

Pagaya Technologies Ltd. priced an offering of 7,500,000 Class A Ordinary Shares.

Under what type of agreement was the share offering conducted?

The offering was conducted pursuant to an underwriting agreement.

What is the principal executive office address for Pagaya Technologies Ltd.?

The principal executive offices are located at 90 Park Ave, 20th Floor, New York, NY 10016.

Does Pagaya Technologies Ltd. file annual reports under Form 20-F?

Yes, Pagaya Technologies Ltd. indicates it files annual reports under cover of Form 20-F.

Filing Stats: 567 words · 2 min read · ~2 pages · Grade level 10.5 · Accepted 2024-03-18 16:08:52

Key Financial Figures

  • $90.0 m — ale of the securities are approximately $90.0 million, after deducting the underwriting

Filing Documents

From the Filing

Document UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of March 2024 Commission file number 001-41430 Pagaya Technologies Ltd. (Exact Name of Registrant as Specified in Its Charter) 90 Park Ave, 20th Floor New York, NY 10016 (646) 710-7714 (Address of Principal Executive Offices) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F Form 40-F CONTENTS On March 13, 2024, Pagaya Technologies Ltd. (the "Company") priced an offering of 7,500,000 of its Class A Ordinary Shares, no par value, pursuant to an underwriting agreement (the "Underwriting Agreement") with Citigroup Global Markets Inc. and Jefferies LLC as representatives of the several underwriters. The Underwriting Agreement includes the terms and conditions for the offering and sale of the securities, indemnification and contribution obligations, and other terms and conditions customary in agreements of this type. The foregoing description of the Underwriting Agreement does not purport to be complete and is qualified in its entirety by reference to the Underwriting Agreement, which is attached as Exhibit 1.1 to this Report on Form 6-K. On March 14, 2024, the Company issued a press release announcing the pricing of the securities. A copy of the press release is attached as Exhibit 99.1 to this Report on Form 6-K. The offer and sale of the securities have been registered under the Securities Act of 1933, as amended, pursuant to a registration statement on Form F-3 (File No. 333-274862) (the "Registration Statement"). The Company has filed with the U.S. Securities and Exchange Commission a prospectus supplement dated March 13, 2024, together with an accompanying prospectus dated October 16, 2023, relating to the offer and sale of the securities. Opinion of counsel regarding the validity of the securities is attached to this Report on Form 6-K as Exhibit 5.1 and the consent of such counsel relating to the incorporation of such opinion into the Registration Statement is attached to this Report on Form 6-K as Exhibit 23.1. The proceeds from the offer and sale of the securities are approximately $90.0 million, after deducting the underwriting discount and fees and offering expenses payable by the Company. The Company intends to use the net proceeds from the offer and sale of the securities for general corporate purposes and to support future growth, which many include working capital expenses and associated investments. INCORPORATION BY REFERENCE This Report on Form 6-K (other than Exhibit 99.1), including Exhibits 1.1, 5.1 and 23.1, is hereby incorporated by reference into the Company's registration statement on Form F-3 filed with the Securities and Exchange Commission on October 4, 2023 (File No. 333-274862). EXHIBIT INDEX Exhibit Number Description 1.1 Underwriting Agreement, dated March 13, 2024, between Pagaya Technologies Ltd. and Citigroup Global Markets Inc. and Jefferies LLC, as representatives of the several underwriters 5.1 Opinion of Goldfarb Gross Seligman Co. 23.1 Consent of Goldfarb Gross Seligman Co. (included in Exhibit 5.1) 99.1 Press Release, dated March 14, 2024 SIGNATURE 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. By s Gal Krubiner Name Gal Krubiner Title Chief Executive Officer Date March 18, 2024

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