- Reuters
U.S.-Israeli fintech Pagaya to go public via $8.5 billion SPAC deal
The deal will result in gross proceeds of $288 million from cash held in the blank-check firm's trust and a $200 million private investment in public equity (PIPE) from entities affiliated with EJF Acquisition. Shares of EJF Acquisition rose 1.8% to $9.86 in premarket trade. Founded in 2016, Pagaya manages assets for banks, insurance companies, pensions funds, asset managers, and sovereign wealth funds using artificial intelligence.
