Pagaya Technologies Launches Note Offering with Repurchase Option

Pagaya Technologies Announces New Note Offering and Potential Repurchase Option

Pagaya Technologies, a leading global technology company, has announced a new offering of notes priced at 95% of their principal amount. This strategic move is expected to generate net proceeds of approximately $128.1 million, with potential to increase to $146.5 million if additional notes are purchased. The notes are not registered under the Securities Act, and their sale is contingent upon exemptions from registration requirements.

In the event of a "fundamental change" as defined in the notes' indenture, noteholders may require Pagaya US to repurchase their notes for cash, equal to the principal amount plus any accrued interest. This provision adds a layer of security for investors amidst market fluctuations.

Pagaya's offering is part of its broader strategy to reshape the financial services ecosystem using machine learning and AI. The company's innovative approach provides consumer credit solutions, seamlessly integrating with partners to expand access to financial services.

The press release also includes forward-looking statements under the Private Securities Litigation Reform Act of 1995, highlighting potential risks and uncertainties. Pagaya emphasizes that actual results may differ due to market conditions and other factors outlined in its SEC filings.

For more information on Pagaya Technologies and its financial offerings, visit their official website or refer to their latest SEC filings.