News from the Wire

Paygaya completes EJF acquisition, debuts as public company

Thursday, June 23, 2022 — 12:33:37 (EDT)

NEW YORK and TEL AVIV, Israel, June 22, 2022 (GLOBE NEWSWIRE) -- Pagaya Technologies Ltd. (“Pagaya”), a global technology company delivering artificial intelligence infrastructure for the financial ecosystem, announced today the completion of its previously announced business combination with EJF Acquisition Corp. (“EJFA”), a special purpose acquisition company, which was approved by Pagaya shareholders on June 16, 2022 and by EJFA’s shareholders on June 17, 2022. The publicly listed company is now Pagaya Technologies Ltd. and its Class A ordinary shares and public warrants will begin trading on the Nasdaq stock market beginning on June 23, 2022 under the ticker symbols "PGY" and "PGYWW,” respectively.

"Six years ago, we embarked on a mission to become the leading network powering financial possibilities for our partners and their customers,” said Gal Krubiner, CEO of Pagaya. “Since then, we have achieved significant volume and scale, thanks to the support of our dedicated employees, partners, and investors, leading us to this exciting moment in our company’s history. We believe being a public company better positions us to continue becoming the trusted A.I. partner for the banking ecosystem, helping to expand the availability of life-changing financial products to more people.”

About Pagaya

Pagaya is a financial technology company working to reshape the lending marketplace by using machine learning, big data analytics, and sophisticated AI-driven credit and analysis technology. Pagaya was built to provide a comprehensive solution to enable the credit industry to deliver their customers a positive experience while simultaneously enhancing the broader credit ecosystem. Its proprietary API and capital solutions seamlessly integrate into its next-gen infrastructure network of partners to deliver a premium customer user experience and greater access to credit.

For more information on Pagaya's technology, services, and careers, please visit www.Pagaya.com.

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Source: Company press release.