Company: PGYWW
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001883085-25-000195
Chunk: 8

Company: Pagaya Technologies Ltd.
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 1
Chunk 8
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,000 244,725 Proceeds from secured borrowing263,484 254,895 Proceeds received from noncontrolling interests— 2,815 Proceeds from revolving credit facility— 59,000 Proceeds from exercise of stock options and stock purchase plan6,545 3,160 Proceeds from issuance of ordinary shares from the Equity Financing Purchase Agreement— 11,865 Distributions made to noncontrolling interests(11,972)(7,892)Payments made to revolving credit facility— (134,000)Payments made to secured borrowing(310,844)(117,883)Payments made to long-term debt(347,643)(9,563)Payments for debt issuance costs(12,660)(7,974)Payments for deferred offering costs— (1,198)

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Net cash provided by financing activities86,910 387,906 Effect of exchange rate changes on cash and cash equivalents, and restricted cash and cash equivalents 2,047 (1,180)Net increase (decrease) in cash and cash equivalents, and restricted cash and cash equivalents 38,249 (41,494)Cash and cash equivalents, and restricted cash and cash equivalents, beginning of period226,518 222,541 Cash and cash equivalents, and restricted cash and cash equivalents, end of period$264,767 $181,047 Reconciliation of cash and cash equivalents, and restricted cash and cash equivalents within the unaudited condensed consolidated balance sheet to the amounts shown in the statements of cash flow above:Cash and cash equivalents$218,314 $147,099 Restricted cash and cash equivalents46,453 33,948 Total cash and cash equivalents, and restricted cash and cash equivalents $264,767 $181,047 

(1) Accrued interest receivable previously reported within “Fee and other receivables” in the prior period has been reclassified to “Investment in loans and securities” to conform to the current period’s presentation.

(2) Represents an investment in an affiliate by settling its third-party debt using restricted cash collateralized on the Company's balance sheet.

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