Pagaya exploring acquisition of Sunlight Financial, Bloomberg reports

Pagaya Technologies (PGY) is exploring an acquisition of Sunlight Financial (SUNL), Michelle Davis and Gillian Tan of Bloomberg report, citing people with knowledge of the matter. Pagaya has expressed interest in Sunlight, but it is unclear how Sunlight will respond and there’s no certainty a deal will be reached, sources told Bloomberg. Pagaya "continues to explore opportunities that are accretive" to its business, a spokesperson for the company told the news service. Shares of Sunlight Financial are up 28% to 42c following the report while Pagaya is up 2% to 94c.