Analysis EJFAU

Pagaya Technologies Announces Upsized $350 Million PIPE to Further Accelerate Growth

, BusinessWire

Pagaya Technologies, a B2B2C financial technology company enabling its financial services partners to serve more customers through its artificial intelligence partner network, today announced an upsized $350 million fully committed common equity PIPE.

The PIPE will further support Pagaya’s business plan upon the close of its pending business combination with EJF Acquisition Corp (NASDAQ: EJFA).

The additional $220 million of new committed capital represents a cornerstone investment by a premier group of long-term investors, including Tiger Global, Whale Rock, GIC – Singapore’s Sovereign Wealth Fund, Healthcare of Ontario Pension Plan (HOOPP) and G Squared. To accommodate the significant demand, funds affiliated with EJF Capital LLC reduced a portion of their allocation.

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