Pagaya Technologies (NASDAQ:PGY) Stock Plunges on Cautious 2026 Outlook Despite Q4 Earnings Beat
Pagaya Technologies (NASDAQ:PGY) reported strong Q4 2025 earnings, exceeding EPS estimates and achieving record GAAP profitability for the year. However, the company's cautious outlook for Q1 and full-year 2026 revenue and EBITDA, which falls below analyst consensus, led to a significant stock price plunge in pre-market trading. This indicates that while past performance was strong, future growth projections are tempering investor enthusiasm.
KBRA Assigns Preliminary Ratings to Pagaya AI Debt Grantor Trust 2026-R1 and Pagaya AI Debt Trust 2026-R1
KBRA has assigned preliminary ratings to eight classes of notes for Pagaya AI Debt Grantor Trust 2026-R1 and Pagaya AI Debt Trust 2026-R1 (PAID 2026-R1), an unsecured consumer loan ABS transaction totaling $386.99 million. This marks the 59th publicly rated securitization sponsored by Pagaya Structured Products LLC, a financial technology company utilizing AI-driven credit analysis. KBRA applied its Consumer Loan ABS Global Rating Methodology, among others, for this analysis, considering Pagaya's historical data and operational reviews.
KBRA Assigns Preliminary Ratings to Pagaya AI Debt Grantor Trust 2026-R1 and Pagaya AI Debt Trust 2026-R1
KBRA has assigned preliminary ratings to eight classes of notes for the Pagaya AI Debt Grantor Trust 2026-R1 and Pagaya AI Debt Trust 2026-R1, an unsecured consumer loan ABS transaction totaling $386.99 million. This marks the 59th publicly rated securitization sponsored by Pagaya Structured Products LLC, a subsidiary of NASDAQ-listed Pagaya Technologies Ltd. The ratings were based on KBRA's Consumer Loan ABS Global Rating Methodology, considering credit enhancement levels and Pagaya's historical data and operational reviews.
KBRA Assigns Preliminary Ratings to Pagaya AI Debt Grantor Trust 2026-1 & Pagaya AI Debt Trust 2026-1
KBRA has assigned preliminary ratings to 15 classes of notes issued by Pagaya AI Debt Grantor Trust 2026-1 & Pagaya AI Debt Trust 2026-1 (PAID 2026-1), an unsecured consumer loan ABS transaction totaling $595.80 million. The transaction is fully prefunded and sponsored by Pagaya Structured Products LLC, a subsidiary of Pagaya Technologies Ltd. Pagaya, a financial technology company, utilizes AI-driven credit and analysis technology in the lending marketplace, and this marks their 57th publicly rated securitization.
Pagaya Insider Sells $1.7 Million in Stock as Shares Significantly Outperform the Market
Tami Rosen, Chief Development Officer of Pagaya Technologies, sold 7,561 shares worth approximately $232,400 on December 19, via a pre-established Rule 10b5-1 trading plan. This sale occurred after Pagaya's shares significantly outperformed the market with a 118.28% one-year return. Despite the insider sale, the company demonstrated strong operational performance with improved net income and raised full-year guidance, suggesting the sale does not undermine the company's broader investment thesis.
Rosen Tami, Pagaya technologies chief development officer, sells $232k in PGY stock
Rosen Tami, Chief Development Officer at Pagaya Technologies Ltd (NASDAQ:PGY), sold 7,561 shares of the company’s Class A Ordinary Shares for a total of $232,383 on December 19, 2025. This transaction was executed under a pre-arranged 10b5-1 trading plan. Following the sale, Tami Rosen now directly owns 37,544 shares of Pagaya Technologies Ltd.
Rosen Tami, Pagaya technologies chief development officer, sells $232k in PGY stock By Investing.com
Tami Rosen, Chief Development Officer at Pagaya Technologies Ltd (NASDAQ:PGY), sold 7,561 shares of PGY stock for $232,383 on December 19, 2025. This sale was conducted under a pre-arranged 10b5-1 trading plan, leaving Rosen with 37,544 shares. The news follows recent strong financial results and strategic partnerships for Pagaya Technologies.
Rosen Tami, Pagaya technologies chief development officer, sells $232k in PGY stock
Tami Rosen, Chief Development Officer at Pagaya Technologies Ltd, sold 7,561 Class A Ordinary Shares for $232,383 on December 19, 2025, through a pre-arranged trading plan. This transaction follows Pagaya's strong third-quarter 2025 financial results, which surpassed analyst expectations, and significant capital commitments including new asset-backed securitization deals and a partnership with Achieve. The company continues its strategic growth efforts by expanding consumer access to personal loans using its AI-powered underwriting technology.
First Week of PGY August 2026 Options Trading
New options for Pagaya Technologies Ltd. (PGY) with an August 2026 expiration have started trading this week. This article analyzes a put contract at a $23.00 strike price and a call contract at a $24.00 strike price, highlighting potential premium collection, cost basis reduction, and annualized returns for investors. It also discusses the implied volatility and the odds of these contracts expiring worthless.
KBRA Assigns Preliminary Ratings to Pagaya AI Debt Grantor Trust 2025-REV1 & Pagaya AI Debt Trust 2025-REV1
KBRA has assigned preliminary ratings to five classes of notes issued by Pagaya AI Debt Grantor Trust 2025-REV1 & Pagaya AI Debt Trust 2025-REV1 (collectively "PAID 2025-REV1"), an unsecured consumer loan ABS transaction totaling $321.475 million. Pagaya Technologies, listed on NASDAQ (PGY), is the parent company of the sponsor, Pagaya Structured Products LLC, and uses AI-driven credit analysis. This transaction marks the 58th publicly rated securitization sponsored by Pagaya, with KBRA applying its Consumer Loan ABS Global Rating Methodology, Global Structured Finance Counterparty Methodology, and ESG Global Rating Methodology for its analysis.
Pagaya Technologies Executives Sell Shares to Cover Tax Obligations
Several executives at Pagaya Technologies Ltd. have sold shares to cover tax obligations arising from compensatory awards. Sanjiv Das, Tami Rosen, and Perros Evangelos, all 10% owners and executives, divested Class A Ordinary Shares at $22.35 per share. These transactions were reported via Form 4 filings, detailing the amounts and subsequent direct shareholdings of each executive.
KBRA Assigns Preliminary Ratings to Research-Driven Pagaya Motor Asset Trust 2025-6 and Research-Driven Pagaya Motor Trust 2025-6
KBRA has assigned preliminary ratings to seven classes of notes for Research-Driven Pagaya Motor Asset Trust 2025-6 and Research-Driven Pagaya Motor Trust 2025-6 (RPM 2025-6), an auto loan ABS transaction. This transaction involves the issuance of $399.20 million in notes and is fully prefunded without collateral at closing. Pagaya Structured Products LLC, a subsidiary of Pagaya Technologies Ltd. (NASDAQ: PGY), sponsors the securitization, leveraging its AI-driven financial technology.
Pagaya Technologies Ltd Files New Registration Statement
Pagaya Technologies Ltd announced the filing of a new registration statement (Form S-3SAR) on December 5, 2025, to meet existing obligations and replace an expired Form F-3. This filing does not involve the offering or sale of new securities but registers Class A shares from warrant exercises and includes updated financial data for 2023 and 2024 to ensure compliance with their Registration Rights Agreement.
Credit Rating Analysis Agency | Bond Rating Agency
KBRA has assigned ratings to seven classes of notes for Research-Driven Pagaya Motor Asset Trust 2025-6 and Research-Driven Pagaya Motor Trust 2025-6, totaling $399.20 million. This auto loan ABS transaction is fully prefunded and sponsored by Pagaya Structured Products LLC, a subsidiary of publicly traded Pagaya Technologies Ltd. The analysis incorporated KBRA's Auto Loan ABS Global Rating Methodology, Global Structured Finance Counterparty Methodology, and ESG Global Rating Methodology, along with operational reviews of Pagaya and third-party originators/servicers.
Credit Rating Analysis Agency | Bond Rating Agency
KBRA has assigned preliminary ratings to 15 classes of notes issued by Pagaya AI Debt Grantor Trust 2025-8 & Pagaya AI Debt Trust 2025-8, an unsecured consumer loan ABS transaction totaling $498.5 million. The transaction is fully prefunded and sponsored by Pagaya Structured Products LLC, a subsidiary of Pagaya Technologies Ltd. KBRA utilized its Consumer Loan ABS Global Rating Methodology, Global Structured Finance Counterparty Methodology, and ESG Global Rating Methodology for the analysis.
PGY Makes Bullish Cross Above Critical Moving Average
Shares of Pagaya Technologies Ltd. - Class A Ordinary Shares (PGY) experienced a bullish cross above their 200-day moving average, reaching $22.99 per share on Monday. The stock is currently trading up about 4.4% on the day, with its 52-week range spanning from $8.27 to $44.99 and a last trade of $22.51. This upward movement indicates potential positive momentum for the company.
KBRA Assigns Preliminary Ratings to Research-Driven Pagaya Motor Asset Trust 2025-6 and Research-Driven Pagaya Motor Trust 2025-6
KBRA has assigned preliminary ratings to seven classes of notes issued by Research-Driven Pagaya Motor Asset Trust 2025-6 and Research-Driven Pagaya Motor Trust 2025-6 (collectively "RPM 2025-6"), an auto loan ABS transaction. This transaction, sponsored by Pagaya Structured Products LLC, involves the issuance of $399.20 million in notes and is fully prefunded with no collateral at closing. Pagaya Technologies, a publicly traded financial technology company utilizing AI-driven credit analysis, is the parent company.
KBRA Assigns Preliminary Ratings to Research-Driven Pagaya Motor Asset Trust 2025-6 and Research-Driven Pagaya Motor Trust 2025-6
KBRA has assigned preliminary ratings to seven classes of notes for Research-Driven Pagaya Motor Asset Trust 2025-6 and Research-Driven Pagaya Motor Trust 2025-6 (RPM 2025-6), an auto loan ABS transaction. This transaction, structured as fully prefunded, will issue notes totaling $399.20 million, with proceeds funding the prefunding account, reserve account, and transaction expenses. Pagaya Structured Products LLC, a subsidiary of NASDAQ-listed Pagaya Technologies Ltd. (PGY), is the sponsor, leveraging machine learning and AI for credit analysis in the lending marketplace.
Pagaya (PGY) Q3 2025 Earnings Call Transcript
Pagaya Technologies Ltd. reported strong Q3 2025 results with third consecutive GAAP net income profitability, record network volume of $2.8 billion, and a 91% increase in adjusted EBITDA. The company highlighted disciplined operational execution, diversification of funding sources, and a significant increase in new partners in its onboarding pipeline. Management emphasized their B2B model and product-led growth strategy as key drivers for sustainable long-term expansion in consumer credit.
Credit Rating Analysis Agency | Bond Rating Agency
KBRA has assigned preliminary ratings to eight classes of notes for the Pagaya AI Debt Grantor Trust 2025-R3 and Pagaya AI Debt Trust 2025-R3, an unsecured consumer loan ABS transaction totaling $422.30 million. This marks the 53rd publicly rated securitization sponsored by Pagaya Structured Products LLC, a company that utilizes AI-driven credit and analysis technology. The ratings were determined using KBRA's Consumer Loan ABS Global Rating Methodology, among others, with initial hard credit enhancement levels ranging from 48.05% to 7.50%.
KBRA Assigns Preliminary Ratings to Pagaya AI Debt Grantor Trust 2025-7 & Pagaya AI Debt Trust 2025-7
KBRA has assigned preliminary ratings to 13 classes of notes for Pagaya AI Debt Grantor Trust 2025-7 and Pagaya AI Debt Trust 2025-7 (PAID 2025-7), an unsecured consumer loan ABS transaction. The transaction, sponsored by Pagaya Structured Products LLC, involves the issuance of 14 classes of notes totaling $500.0 million and is fully prefunded. Pagaya Technologies Ltd. (NASDAQ: PGY), the parent company, utilizes AI-driven credit and analysis technology in the lending marketplace.
KBRA Assigns Preliminary Ratings to Pagaya AI Debt Grantor Trust 2025-7 & Pagaya AI Debt Trust 2025-7
KBRA has assigned preliminary ratings to 13 classes of notes issued by Pagaya AI Debt Grantor Trust 2025-7 and Pagaya AI Debt Trust 2025-7 (PAID 2025-7), an unsecured consumer loan ABS transaction totaling $500.0 million. This transaction is the 51st publicly rated securitization sponsored by Pagaya Structured Products LLC, a subsidiary of Pagaya Technologies Ltd. The ratings are based on KBRA's Consumer Loan ABS Global Rating Methodology, among others, and credit enhancement levels range from 82.79% for Class A-1 Notes to 1.36% for Class F Notes.
Credit Rating Analysis Agency | Bond Rating Agency
KBRA has assigned preliminary ratings to 13 classes of notes for Pagaya AI Debt Grantor Trust 2025-7 and Pagaya AI Debt Trust 2025-7 (PAID 2025-7), an unsecured consumer loan ABS transaction totaling $500.0 million. This fully prefunded transaction is sponsored by Pagaya Structured Products LLC, a subsidiary of Pagaya Technologies Ltd. (PGY), which leverages AI-driven credit analysis. KBRA's analysis incorporated its Consumer Loan ABS Global Rating Methodology, Global Structured Finance Counterparty Methodology, and ESG Global Rating Methodology, along with operational reviews of Pagaya and Platform Sellers.
Pagaya Technologies Ltd. Experiences Revision in Stock Evaluation Amid Market Dynamics - Markets Mojo
Pagaya Technologies Ltd. has seen its stock evaluation revised due to market dynamics, with significant volatility shown in its recent trading range. Despite mixed technical indicators, the company has substantially outperformed the S&P 500 in year-to-date and annual returns, demonstrating strong growth potential. Key factors include very positive results in June 2025, high institutional holdings, and market-beating performance in both the long and near term.
KBRA Assigns Preliminary Ratings to Research-Driven Pagaya Motor Asset Trust 2025-5 and Research-Driven Pagaya Motor Trust 2025-5
KBRA has assigned preliminary ratings to seven classes of notes for Research-Driven Pagaya Motor Asset Trust 2025-5 and Research-Driven Pagaya Motor Trust 2025-5, an auto loan ABS transaction totaling $367.40 million. The transaction is fully prefunded without collateral at closing and is sponsored by Pagaya Structured Products LLC, a subsidiary of Pagaya Technologies Ltd. (NASDAQ: PGY). KBRA's analysis included its Auto Loan ABS Global Rating Methodology and the Company's historical static pool data.
Amprius Technologies Leads Six-Month Stock Performance with 365.92% Return
Amprius Technologies, Inc. led the past six months in stock performance with a 365.92% return, followed by Sol-Gel Technologies Ltd. at 327.34%. Other top performers included Pagaya Technologies Ltd., Village Farms International, Inc., and Credo Technology Group Holding Ltd. These results demonstrate robust investment opportunities across diverse sectors, especially within small and micro-cap stocks.
Amprius Technologies Leads Six-Month Stock Performance with 348.04% Return
Amprius Technologies, Inc. led several stocks with significant six-month returns, achieving 348.04%. Other strong performers included Sol-Gel Technologies Ltd. (334.27%), Pagaya Technologies Ltd. (293.84%), Village Farms International, Inc. (281.71%), and Universal Security Instruments, Inc. (255.43%). These companies span sectors like Electronics, Pharmaceuticals, Software, Capital Markets, and IT, highlighting potential for substantial gains across diverse investment categories.
KBRA Assigns Preliminary Ratings to Pagaya AI Debt Grantor Trust 2025-6 and Pagaya AI Debt Trust 2025-6
KBRA has assigned preliminary ratings to 12 classes of notes issued by Pagaya AI Debt Grantor Trust 2025-6 and Pagaya AI Debt Trust 2025-6 (PAID 2025-6), an unsecured consumer loan ABS transaction. This transaction is the 49th publicly rated securitization sponsored by Pagaya, a financial technology company using AI-driven credit and analysis technology in the lending marketplace. The ratings are based on initial hard credit enhancement levels and KBRA's comprehensive methodology, including operational reviews and historical data analysis.
Credit Rating Analysis Agency | Bond Rating Agency
KBRA has assigned ratings to eight classes of notes for Pagaya AI Debt Grantor Trust 2025-R2 and Pagaya AI Debt Trust 2025-R2 (PAID 2025-R2), an unsecured consumer loan ABS transaction totaling $319.51 million. Pagaya Technologies Ltd. (NASDAQ: PGY), a financial technology company using AI and machine learning for lending, is the sponsor. This marks their 49th publicly rated securitization, with KBRA utilizing its Consumer Loan ABS Global Rating Methodology and other relevant methodologies for analysis.
Pagaya Technologies Reports Strong Q2 2025 Results
Pagaya Technologies (PGY) announced strong financial results for Q2 2025, marking its second consecutive quarter of positive GAAP net income and leading to raised full-year guidance. The company achieved record-breaking metrics including $17 million in net income, $86 million in adjusted EBITDA, and $326 million in total revenue. Pagaya also expanded its offerings with the first AAA-rated Auto ABS and Point-of-Sale ABS structures and issued $500 million in senior unsecured notes.
Credit Rating Analysis Agency | Bond Rating Agency
KBRA has assigned preliminary ratings to eight classes of notes for the Pagaya AI Debt Grantor Trust 2025-R2 and Pagaya AI Debt Trust 2025-R2 (PAID 2025-R2) transaction, an unsecured consumer loan ABS. The total issuance is $319.51 million, with initial hard credit enhancement levels ranging from 44.29% for Class A Notes to 5.44% for Class E Notes. This transaction marks the 49th publicly rated securitization sponsored by Pagaya Structured Products LLC, a subsidiary of Pagaya Technologies Ltd. (NASDAQ: PGY), a financial technology company utilizing AI and machine learning for credit analysis.
KBRA Assigns Ratings to Pagaya AI Debt Grantor Trust 2025-5 and Pagaya AI Debt Trust 2025-5
KBRA has assigned ratings to 12 classes of notes for Pagaya AI Debt Grantor Trust 2025-5 and Pagaya AI Debt Trust 2025-5 (PAID 2025-5), an unsecured consumer loan ABS transaction totaling $490.0 million. This marks the 47th publicly rated securitization sponsored by Pagaya Structured Products LLC, a subsidiary of Pagaya Technologies Ltd. (NASDAQ: PGY), which uses AI-driven technology in the lending marketplace. KBRA applied its Consumer Loan ABS, Global Structured Finance Counterparty, and ESG Global Rating Methodologies for its analysis.
Pagaya Technologies Executives Sell Shares
Several top executives at Pagaya Technologies Ltd. have sold shares recently, according to SEC filings. CFO Perros Evangelos, Chief Development Officer Tami Rosen, and President Sanjiv Das all sold Class A Ordinary Shares, primarily to cover tax obligations from compensatory awards. These transactions resulted in a decrease in their direct shareholdings in the company.
Pagaya Closes New PAID Deal of $600 Million, Capping Record Quarter for ABS Issuance
Pagaya Technologies LTD. announced the closing of a new $600 million AAA-rated asset-backed securitization (PAID 2025-4), bringing its Q2 2025 ABS transactions to over $2.3 billion, a company record. This deal, which was oversubscribed and upsized with 23 investors, reinforces Pagaya's consistent funding execution across various asset classes, including personal loans, auto loans, and point-of-sale financing. The company has now raised nearly $30 billion across 73 ABS transactions since 2018, demonstrating institutional confidence in its AI-driven platform.
PGY Stock Price, News & Analysis
Pagaya Technologies Ltd. (PGY) is an AI-driven financial technology company that uses machine learning and data analytics to provide consumer credit and residential real estate products. The company partners with banks and fintechs, leveraging solutions like asset-backed securitization and forward flow agreements to fund loans. Pagaya positions itself as an AI infrastructure provider within the financial ecosystem, focusing on expanding access to credit while managing risk for investors and partners.
KBRA Assigns Preliminary Ratings to Research-Driven Pagaya Motor Asset Trust 2025-2 and Research-Driven Pagaya Motor Trust 2025-2
KBRA has assigned preliminary ratings to five classes of notes for Research-Driven Pagaya Motor Asset Trust 2025-2 and Research-Driven Pagaya Motor Trust 2025-2, an auto loan ABS transaction totaling $295.0 million. This transaction is fully prefunded, with credit enhancement provided by overcollateralization, subordination, a cash reserve, and excess spread. Pagaya Structured Products LLC, a subsidiary of NASDAQ-listed Pagaya Technologies Ltd. (PGY), is the sponsor, utilizing its machine learning and AI-driven credit technology for this 40th publicly rated securitization.
KBRA Assigns Preliminary Ratings to Pagaya AI Debt Grantor Trust 2025-2 and Pagaya AI Debt Trust 2025-2
KBRA has assigned preliminary ratings to 11 classes of notes issued by Pagaya AI Debt Grantor Trust 2025-2 and Pagaya AI Debt Trust 2025-2 (PAID 2025-2), an unsecured consumer loan ABS transaction. This transaction, sponsored by Pagaya Structured Products LLC, is the 35th publicly rated securitization by Pagaya, a financial technology company utilizing AI-driven credit analysis. The ratings were based on KBRA's Consumer Loan ABS Global Rating Methodology, Global Structured Finance Counterparty Methodology, and ESG Global Rating Methodology.
KBRA Assigns Preliminary Ratings to Pagaya AI Debt Grantor Trust 2025-2 and Pagaya AI Debt Trust 2025-2
KBRA has assigned preliminary ratings to 11 classes of notes for Pagaya AI Debt Grantor Trust 2025-2 and Pagaya AI Debt Trust 2025-2 (PAID 2025-2), an unsecured consumer loan ABS transaction totaling $491.0 million. This marks the 35th publicly rated securitization sponsored by Pagaya Structured Products LLC, a subsidiary of NASDAQ-listed Pagaya Technologies Ltd. (PGY). KBRA applied its Consumer Loan ABS Global Rating Methodology, among others, for its analysis.
Bronstein, Gewirtz & Grossman, LLC Announces an Investigation Against Pagaya Technologies Ltd. (PGY) and Encourages Stockholders to Learn More About the Investigation
Bronstein, Gewirtz & Grossman, LLC has launched an investigation into Pagaya Technologies Ltd. (NASDAQ:PGY) following a report from Iceberg Research alleging the company misled investors about its financial health and risk exposure. The report claims Pagaya used investor funds for high-risk loans and manipulated finances to inflate fees, leading to a significant drop in Pagaya's stock price. The firm is encouraging investors who purchased Pagaya securities to join the investigation.
PGY Stock: Price, Forecast, Financials & AI Analysis
This article provides an analysis of Pagaya Technologies Ltd (PGY) stock, including its current price, financial metrics, and analyst forecasts. The company is an Israel-based FinTech firm leveraging AI and machine learning for credit assessments. Recent news highlights insider stock sales, strong financial performance, and upcoming earnings announcements, with analysts maintaining a positive outlook and an average 1-year price target of $43.83.
Credit Rating Analysis Agency | Bond Rating Agency
KBRA has assigned ratings to five classes of notes issued by Research-Driven Pagaya Motor Asset Trust 2025-1 and Research-Driven Pagaya Motor Trust 2025-1 (RPM 2025-1), an auto loan ABS transaction totaling $300.0 million. The transaction is fully prefunded and sponsored by Pagaya Structured Products LLC, a subsidiary of Pagaya Technologies Ltd. KBRA's analysis applied its Auto Loan ABS Global Rating Methodology, Global Structured Finance Counterparty Methodology, and ESG Global Rating Methodology.
KBRA Assigns Preliminary Ratings to Pagaya AI Debt Grantor Trust 2025-1 and Pagaya AI Debt Trust 2025-1
KBRA has assigned preliminary ratings to 11 classes of notes for Pagaya AI Debt Grantor Trust 2025-1 and Pagaya AI Debt Trust 2025-1 (PAID 2025-1), an unsecured consumer loan ABS transaction totaling $491.0 million. This fully prefunded transaction is sponsored by Pagaya Structured Products LLC, a subsidiary of Pagaya Technologies Ltd. (NASDAQ: PGY), and represents Pagaya's 33rd publicly rated securitization.
Pagaya Technologies appoints new Chief Accounting Officer
Pagaya Technologies has appointed Cory Vieira as its new Chief Accounting Officer, effective Monday. Mr. Vieira brings over two decades of experience, having previously served as CAO at BHG Financial and holding positions at American Express and GE Capital. His appointment comes as analysts expect the company to achieve profitability in 2024, supported by strong financial results and strategic growth plans outlined in their recent 3Q 2024 earnings call.
Dechert Advises Pagaya on Agreement to Sell US$1 Billion of Consumer Loans
Dechert advised Pagaya Technologies LTD. on an agreement to sell up to US$1 billion in consumer loans to Castlelake, L.P. This strategic transaction enhances Pagaya's funding capacity and efficiency by adding a new institutional investor to its network. The agreement highlights the scalability and flexibility of bespoke forward flow arrangements in the consumer loan market.
Watkins Advises on Pagaya’s US$95 Million Public Offering
Latham & Watkins LLP advised on Pagaya Technologies Ltd.'s US$95 million underwritten public offering of 7,500,000 Class A ordinary shares at US$12.70 per share. The company intends to use the net proceeds for general corporate purposes and to support future growth. The offering is expected to close on March 18, 2024.
Ashok Vaswani to head Kotak Mahindra Bank
The Reserve Bank of India (RBI) has approved the appointment of Ashok Vaswani as the Managing Director and Chief Executive Officer (MD & CEO) of Kotak Mahindra Bank for a three-year period. Vaswani, previously with Barclays and currently President of Pagaya Technologies Ltd, will succeed Uday Kotak who left the bank in September. This appointment is subject to shareholder approval and is seen as aligning with Kotak's vision for a tech-enabled future.
Pagaya Receives $75 Million from Longstanding Investor Oak HC/FT to Accelerate M&A Strategy
Pagaya Technologies LTD. announced a $75 million investment from its longtime investor, Oak HC/FT, in the form of a convertible perpetual preferred security. This investment, with a conversion price premium of approximately 36% to Pagaya's closing price on April 19, 2023, is intended to accelerate Pagaya's strategic M&A activities, particularly acquisitions, and to support its continued growth in leveraging AI for financial services. The company also anticipates exceeding its Q1 2023 guidance for Network Volume, Revenue, and Adjusted EBITDA.
Pagaya Reports Second Quarter and First Half 2022 Results
Pagaya Technologies Ltd. announced strong second quarter and first half 2022 financial results, with network volume and total revenue growing significantly. The company reported $4.9 million in Adjusted EBITDA for Q2 and provided a full-year 2022 outlook, reflecting ongoing investments and business milestones such as onboarding a large U.S. bank and former Barclays Bank UK CEO Ashok Vaswani joining as President. These results highlight Pagaya's continued growth as a public company utilizing its AI network in the financial ecosystem.
Pagaya: Israel's three new billionaires are still under 40
The article reports that the 700% rise in fintech company Pagaya's share price over the past week has turned its three founders, Gal Krubiner, Yahav Yulzari, and Avital Pardo, into billionaires on paper. This surge has made Pagaya Israel's third most valuable company. The phenomenal rise is largely attributed by market sources to a short squeeze, given the company's loss-making status and recent Nasdaq listing.
Pagaya announces Upsized $350 million PIPE for Growth
Pagaya, a B2B2C financial technology company, announced an upsized $350 million fully committed common equity PIPE to support its business plan following its pending business combination with EJF Acquisition Corp. This funding round saw significant interest from premier long-term investors like Tiger Global and GIC Singapore, reflecting strong confidence in Pagaya's strategy to penetrate a substantial addressable market. The deal values Pagaya at an implied enterprise value of approximately $8.5 billion and is expected to close in early 2022.
