Pagaya unit offers $125M exchangeable notes due 2029, plus $100M term loan, targeting ~$30M annual interest savings

Pagaya Technologies Ltd.

Pagaya US Holding Co. priced $125M in Exchangeable Senior Notes due 2029; underwriters have 13-day option for additional $18.75M.
Company obtained $100M incremental term loan due 2029; combined proceeds to refinance high-cost secured borrowings.
Refinancing expected to reduce annual cash interest expense by approximately $30 million.
Upon completion, Pagaya expects to be total cash flow positive on an annualized basis.
Notes are senior unsecured, guaranteed by Pagaya; interest rate and exchange terms to be set at pricing.

item 7.01 item 8.01 item 9.01

Machine-readable event card

schema_version: secwatch.filing_event.v1
accession: 0001883085-24-000140
form_type: 8-K
ticker: PGY
cik: 0001883085
company_name: Pagaya Technologies Ltd.
filed_at: 2024-09-25T23:59:59+00:00
discovered_at: 2026-05-14T18:03:15.098212+00:00
generated_at: 2026-05-31T01:55:30.310169+00:00
sec_items: ["7.01", "8.01", "9.01"]
event_type: debt
sentiment: positive
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: high
secwatch_canonical_url: https://secwatch.observer/filing/0001883085-24-000140
json_url: https://secwatch.observer/filing/0001883085-24-000140.json
markdown_url: https://secwatch.observer/filing/0001883085-24-000140.md
text_url: https://secwatch.observer/filing/0001883085-24-000140.txt
edgar_index_url: https://www.sec.gov/Archives/edgar/data/1883085/000188308524000140/0001883085-24-000140-index.htm
edgar_primary_document_url: https://www.sec.gov/Archives/edgar/data/1883085/000188308524000140/pgy-20240925.htm
generated_by_model: deepseek-v4-flash:cloud@v2
review_status: machine_generated
human_reviewed: false
corrected: false
correction_note: null
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superseded_by: null

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Source: SEC EDGAR

accession 0001883085-24-000140

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