Company: PGYWW
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001883085-25-000082
Chunk: 6

Company: Pagaya Technologies Ltd.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 1
Chunk 6
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Cash flows from financing activitiesProceeds from sale of ordinary shares, net of issuance costs— 89,938 Proceeds from long-term debt— 244,725 Proceeds from secured borrowing49,162 97,448 Proceeds received from noncontrolling interests— 2,815 Proceeds from revolving credit facility— 44,000 Proceeds from exercise of stock options, warrants and contributions to ESPP2,859 161 Proceeds from issuance of ordinary shares from the Equity Financing Purchase Agreement— 5,338 Distributions made to noncontrolling interests(4,442)(2,515)Payments made to revolving credit facility— (134,000)Payments made to secured borrowing(46,919)(38,005)Payments made to long-term debt(4,439)(3,188)Debt issuance costs— (7,974)Net cash (used in) provided by financing activities(3,779)298,743 Effect of exchange rate changes on cash, cash equivalents and restricted cash(646)(820)Net increase in cash, cash equivalents and restricted cash3,116 87,507 Cash, cash equivalents and restricted cash, beginning of period226,518 222,541 Cash, cash equivalents and restricted cash, end of period$229,634 $310,048 

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Reconciliation of cash, cash equivalents, and restricted cash within the consolidated balance sheet to the amounts shown in the statements of cash flow above:Cash and cash equivalents$186,797 $274,495 Restricted cash - current18,123 16,872 Restricted cash - non-current24,714 18,681 Total cash, cash equivalents, and restricted cash$229,634 $310,048 

(1) Accrued interest receivable of $14.3 million, previously reported within “Fee and other receivables” as of December 31, 2024, has been reclassified to “Investment in loans and securities”  to conform to the current period’s presentation.

The accompanying notes are an integral part of these condensed consolidated financial statements

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NOTE 1 - BUSINESS DESCRIPTION  

Pagaya Technologies Ltd. and its consolidated subsidiaries (together “we” “our” “Pagaya” or the “Company”) is a technology company that deploys sophisticated data science and proprietary AI technology to drive better results for financial services and other service providers, their customers, and asset investors.