Pagaya Technologies, a global technology company delivering artificial intelligence infrastructure for the financial ecosystem, announced today that its longtime investor, Oak HC/FT, is investing $75 million in Pagaya in the form of a convertible perpetual preferred security. The preferred converts at $1.25, which reflects a premium of approximately 36% to Pagaya's closing price on April 19, 2023. The investment further strengthens Pagaya's positioning to pursue strategic investments, primarily acquisitions, in the current market, driving value alongside its already strong organic growth profile.

Pagaya is a global technology company making life-changing financial products and services available to more people nationwide, as it reshapes the financial services ecosystem. By using machine learning, a vast data network and a sophisticated AI-driven approach, Pagaya provides comprehensive consumer credit and residential real estate solutions for its partners, their customers, and investors. Its proprietary API and capital solutions integrate into its network of partners to deliver seamless user experiences and greater access to the mainstream economy.