Company: PGYWW
Filing Date: 2025-12-05
Form Type: S-3ASR
Source: 0000950103-25-015781
Chunk: 7

Company: Pagaya Technologies Ltd.
Filing Date: 2025-12-05
Form: S-3ASR
Chunk 7
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that certain Agreement and Plan of Merger, dated as of September 15, 2021, by and among EJFA, Pagaya and EJFA Merger Sub.

“EJFA Merger Sub” refers to Rigel
Merger Sub Inc., a Cayman Islands exempted company and a wholly-owned subsidiary of Pagaya.

“EJFA Private Placement Warrants”
refers to the 5,166,667 private placement warrants of EJFA entitling the holder to purchase one EJFA Class A Ordinary Share per warrant.

“EJFA Public Warrants” refers to the
9,583,333 public warrants of EJFA entitling the holder to purchase one EJFA Class A Ordinary Share per warrant.

“private placement warrants” refers
to the outstanding and unexercised warrants to purchase Class A Ordinary Shares issued by private placement, including those issued and
exchanged for the EJFA Private Placement Warrants in connection with the EJFA Merger.

“public warrants” refers to the outstanding
and unexercised warrants to purchase Class A Ordinary Shares issued to holders of EJFA Public Warrants in connection with the EJFA Merger.

“Registration Rights Agreement” refers
to the Amended and Restated Registration Rights Agreement entered into at the consummation of the EJFA Merger, by and among Pagaya, EJFA,
the Sponsor and certain equity holders of Pagaya named therein, replacing EJFA’s and Pagaya’s existing registration rights
agreements.

“Subscription Agreements” refers to
that certain Subscription Agreement, dated as of September 15, 2021, by and between Pagaya and the EJF Investor, providing for the purchase
by the EJF Investor at the consummation of the EJFA Merger of up to 20 million Class A Ordinary Shares at a price per share of $10.00,
for an aggregate purchase price of up to $200 million, and the other subscription agreements entered into by the certain PIPE investors,
the form of which is incorporated herein by reference to Exhibit 10.8 of Pagaya’s Registration Statement on Form F-4 filed with
the SEC on April 7, 2022.

“Warrants” refers to the public warrants
and the private placement warrants, collectively.

“Warrant Agreement” refers to the
EJFA Warrant Agreement, as assigned, assumed and amended by the Assignment, Assumption