Latham & Watkins Advises on Pagaya’s US$95 Million Public Offering

Pagaya Technologies Ltd. (NASDAQ: PGY) (the Company), a global technology company delivering artificial intelligence infrastructure for the financial ecosystem, has announced that it has priced an underwritten public offering of 7,500,000 Class A ordinary shares, no par value at a public offering price of US$12.70 (the Offering). The Company granted the underwriters a 30-day option to purchase up to 1,125,000 additional Class A Ordinary Shares. The gross proceeds to the Company from the Offering are expected to be approximately US$95 million, before deducting underwriting discounts and commissions and estimated offering expenses payable by the Company. The Company intends to use the net proceeds from the Offering for general corporate purposes and to support future growth, which may include working capital expenses and associated investments. The Offering is expected to close on March 18, 2024, subject to market and other conditions.

Latham & Watkins LLP represents the underwriters in the offering with a capital markets team led by partners Stelios Saffos, Greg Rodgers, and Brittany Ruiz, with associate Jie Lin Nai. Advice was also provided on benefits and compensation matters by partner Bradd Williamson and counsel Leah Segall; on data privacy and security matters by partner Heather Deixler; on tax matters by partner Jiyeon Lee-Lim, with associate Seung Hyun Yang; and on IP matters by partner Jeffrey Tochner, with associate Ece Gonulal.