Pagaya completes Theorem acquisition; issues up to 505,602 shares; expects 2025 accretion

Pagaya Technologies Ltd.

Acquired 100% of Theorem Technology; combined credit fund platform exceeds $3B in AUM.
Initial consideration: up to 505,602 Pagaya Class A ordinary shares; potential contingent shares due in 2025.
Acquisition expected to be accretive in 2025; diversifies funding sources and improves capital efficiency.
Theorem founder Hugh Edmundson joins Pagaya team; fund investors gain access to Pagaya's 31-lender network.
Transaction strengthens Pagaya's AI-driven lending platform and institutional demand for consumer credit.

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