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 26, 2024 | 12:08 pm
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Pagaya Technologies shares are trading lower following the announcement of a $125 million private offering of exchangeable senior notes due 2029. This move may indicate a need for capital, which can be perceived negatively by investors.
The announcement of a $125 million private offering of exchangeable senior notes suggests Pagaya Technologies is seeking additional capital. This can be interpreted as a sign of financial need, which often leads to a negative market reaction, as seen by the drop in share price.
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