Pagaya announces strategic actions to enhance marketability of its stock

Pagaya Technologies announced several initiatives to enhance the marketability of its stock and provide increased disclosure and transparency of its business and performance, including its intent to elect to voluntarily file on U.S. domestic issuer forms with the Securities and Exchange Commission SEC beginning with its first quarter 2024 results, as well as relocate its corporate headquarters to New York City. In addition, the Company’s Board of Directors approved a proposal, to be submitted to shareholders for approval at a special meeting, to authorize the Board to effect a reverse split of its ordinary shares, at a proposed range between 1-for-10 and 1-for-15. The Reverse Split is expected to be effected in the first quarter of 2024, with the final ratio to be determined by the Board after shareholder approval. The Company also today announced expectations for certain preliminary, unaudited financial results for the year ended December 31, with its final fourth quarter and full-year 2023 results expected to be announced on February 21.