Pagaya Technologies Ltd. (PGY), a financial technology company, Thursday priced public offering of 7.5 million shares at $12.70 amounting to $95 million. Pagaya shares were down more than 14 percent in pre-market.
The company intends to use proceeds from the offering for working capital and general corporate purposes among others.
Citigroup and Jefferies are active joint book-running managers of the offering, which is expected to close on March 18, 2024.
Pagaya stock had closed at $15.51, up 5.30 percent on Wednesday. It has traded in the range of $0.78 - $20.00 in the last 1 year.
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