---
schema_version: "secwatch.filing_event.v1"
accession: "0001883085-24-000173"
form_type: "8-K"
ticker: "PGY"
cik: "0001883085"
company_name: "Pagaya Technologies Ltd."
filed_at: "2024-10-28T23:59:59+00:00"
generated_at: "2026-05-30T09:49:04.845766+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001883085-24-000173
- form_type: 8-K
- ticker: PGY
- cik: 0001883085
- company_name: Pagaya Technologies Ltd.
- filed_at: 2024-10-28T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 3.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1883085/000188308524000173/0001883085-24-000173-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1883085/000188308524000173/pgy-20241022.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001883085-24-000173
- JSON: https://secwatch.observer/filing/0001883085-24-000173.json
- Plain text: https://secwatch.observer/filing/0001883085-24-000173.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.