Pagaya Technologies shares are trading lower after the company announced its intention to offer $125 million of exchangeable senior notes due 2029 in a private offering.
Portfolio Pulse from Benzinga Newsdesk
Pagaya Technologies shares fell after announcing a $125 million private offering of exchangeable senior notes due 2029.
September 25, 2024 | 9:04 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Pagaya Technologies shares declined following the announcement of a $125 million private offering of exchangeable senior notes due 2029. This move may dilute existing shareholders' value and indicates a need for capital.
The announcement of a $125 million private offering of exchangeable senior notes suggests Pagaya is seeking additional capital, which could lead to dilution of existing shares. This typically results in a negative short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100