Pagaya Technologies shares are trading lower after the company announced the pricing of an underwritten public offering of 7.5 million Class A shares at $12.70 per share.
Portfolio Pulse from Benzinga Newsdesk
Pagaya Technologies announced the pricing of an underwritten public offering of 7.5 million Class A shares at $12.70 per share, leading to a decrease in its share price.
March 14, 2024 | 11:46 am
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Pagaya Technologies' share price has decreased following the announcement of its public offering of 7.5 million Class A shares at $12.70 each.
Public offerings often lead to a decrease in share price due to the dilution of existing shares. The specific pricing and size of Pagaya Technologies' offering have likely contributed to the negative short-term impact on its stock price.
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