Pagaya Technologies Ltd., a fintech firm, declared on Thursday that it has priced its public offering of 7.5 million shares at $12.70 each, which totals to $95 million. The company's shares experienced a drop of more than 14 percent in pre-market trading.
The firm aims to use the proceeds from this offering for an array of purposes, such as augmenting its working capital and for general corporate applications.
Citigroup and Jefferies have been designated as active joint book-running managers for this offering, which is projected to conclude on March 18, 2024.
Pagaya's stock had ended at $15.51 on Wednesday, reflecting an increase of 5.30 percent. Over the past year, its shares have fluctuated between $0.78 and $20.00.
