Pagaya Commences Public Offering Of 6.50M Class A Ordinary Shares
Portfolio Pulse from Benzinga Newsdesk
Pagaya Technologies has announced a public offering of 6.50 million Class A Ordinary Shares, with an option for underwriters to purchase up to 975,000 additional shares. The proceeds are intended for general corporate purposes and to support future growth, including working capital and investments.
March 13, 2024 | 8:46 pm
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Pagaya Technologies announces a public offering of 6.50 million shares, potentially diluting current shareholders but aiming to raise funds for growth.
Public offerings often lead to short-term negative price movements due to the dilution of existing shares. However, the intent to use proceeds for growth could be seen positively in the longer term.
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