Pagaya issues $160M 6.125% exchangeable notes due 2029; refinances higher-cost debt

Pagaya Technologies Ltd.

Issued $160M aggregate principal of 6.125% Exchangeable Senior Notes due 2029.
Net proceeds ~$128.1M (or $146.5M if option exercised fully) to repay higher-cost debt.
Expects to reduce cash interest expense by ~$30M and become cash flow positive annualized.
Exchange price of ~$13.99/share, representing ~45% premium over last reported sale price of $9.65.
Terminated B. Riley ordinary shares purchase agreement; B. Riley confirmed no securities held.

item 1.01 item 1.02 item 3.02 item 8.01

Machine-readable event card

schema_version: secwatch.filing_event.v1
accession: 0001883085-24-000147
form_type: 8-K
ticker: PGY
cik: 0001883085
company_name: Pagaya Technologies Ltd.
filed_at: 2024-10-01T23:59:59+00:00
discovered_at: 2026-05-14T18:03:10.240388+00:00
generated_at: 2026-05-30T23:50:11.233629+00:00
sec_items: ["1.01", "1.02", "3.02", "8.01"]
event_type: debt
sentiment: positive
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: high
secwatch_canonical_url: https://secwatch.observer/filing/0001883085-24-000147
json_url: https://secwatch.observer/filing/0001883085-24-000147.json
markdown_url: https://secwatch.observer/filing/0001883085-24-000147.md
text_url: https://secwatch.observer/filing/0001883085-24-000147.txt
edgar_index_url: https://www.sec.gov/Archives/edgar/data/1883085/000188308524000147/0001883085-24-000147-index.htm
edgar_primary_document_url: https://www.sec.gov/Archives/edgar/data/1883085/000188308524000147/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

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