Pagaya Technologies Ltd. Files 8-K for Regulation FD Disclosure

TL;DR

Pagaya filed an 8-K for a Reg FD disclosure, no major news.

AI Summary

Pagaya Technologies Ltd. filed an 8-K on June 6, 2024, to report a Regulation FD Disclosure. The filing does not contain specific financial figures or material events beyond the disclosure itself, but it confirms the company's reporting status.

Why It Matters

This filing indicates Pagaya Technologies is meeting its regulatory reporting obligations, which is important for investor transparency and confidence.

Risk Assessment

Risk Level: low — The filing is a routine regulatory disclosure and does not contain information that would immediately impact the company's risk profile.

Key Players & Entities

• Pagaya Technologies Ltd. (company) — Registrant
• 001-41430 (dollar_amount) — Commission File Number
• June 6, 2024 (date) — Date of report

FAQ

Key Financial Figures

• $25 m — zed gross cost savings of approximately $25 million, a portion of which is expected t
• $160 million — 24 outlook range for Adjusted EBITDA to $160 million to $200 million, an increase of $10 mil
• $200 m — for Adjusted EBITDA to $160 million to $200 million, an increase of $10 million from
• $10 million — million to $200 million, an increase of $10 million from its previous outlook. There is no

Filing Documents

• pgy-20240606.htm (8-K) — 29KB
• finalpagayajune2024press.htm (EX-99.1) — 7KB
• finalpagayajune2024press001.jpg (GRAPHIC) — 186KB
• finalpagayajune2024press002.jpg (GRAPHIC) — 191KB
• finalpagayajune2024press003.jpg (GRAPHIC) — 132KB
• 0001628280-24-026963.txt ( ) — 912KB
• pgy-20240606.xsd (EX-101.SCH) — 3KB
• pgy-20240606_def.xml (EX-101.DEF) — 16KB
• pgy-20240606_lab.xml (EX-101.LAB) — 28KB
• pgy-20240606_pre.xml (EX-101.PRE) — 17KB
• pgy-20240606_htm.xml (XML) — 4KB

01. Regulation FD Disclosure

Item 7.01. Regulation FD Disclosure. On June 6, 2024, Pagaya Technologies Ltd. (the "Company" or "Pagaya") issued a press release, attached hereto as Exhibit 99.1, announcing that the Company is executing initiatives to drive enhanced profitability and achieve its goal of reaching positive net cash flow, by further streamlining its operations and accelerating its most profitable business strategies. The Company anticipates these initiatives, which include a workforce reduction, will result in annualized gross cost savings of approximately $25 million, a portion of which is expected to be reinvested in key growth areas. As a result, Pagaya is raising its full-year 2024 outlook range for Adjusted EBITDA to $160 million to $200 million, an increase of $10 million from its previous outlook. There is no change to the Company's full-year 2024 outlook for network volume and total revenue and other income. The Company undertakes no obligation to update, supplement or amend the materials attached hereto as Exhibit 99.1. The information in this Report on Form 8-K, including Exhibit 99.1 attached hereto, shall not be deemed to "filed" for purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of that section, and shall not be deemed incorporated by reference into any filings made by the Company under the Securities Act of 1933, as amended, or the Exchange Act, except as may be expressly set forth by specific reference in such filing. Furthermore, the furnishing of information under Item 7.01 of this Current Report on Form 8-K is not intended to constitute a determination by the Company that the information contained herein, including the exhibits hereto, is material or that the dissemination of such information is required by Regulation FD. Cautionary Note on Forward-Looking Statements This Report contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "may," "will," "exp

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 99.1 Press release, dated June 6, 2024

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 hereunto duly authorized. PAGAYA TECHNOLOGIES LTD. Date: June 6, 2024 By: /s/ Sanjiv Das Name: Sanjiv Das Title: President

View Full Filing

View this 8-K filing on SEC EDGAR