Company: PGYWW
Filing Date: 2025-07-28
Form Type: 8-K
Source: 0001883085-25-000157
Chunk: 1

Company: Pagaya Technologies Ltd.
Filing Date: 2025-07-28
Form: 8-K
Item: Item 1.01
Chunk 1
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 US may redeem the Notes, in whole or in part, at its option at a redemption price equal to 100.000% of the principal amount of the Notes plus a make-whole premium described in the Indenture, plus accrued and unpaid interest, if any, to, but not including, the redemption date. On and after August 1, 2027, Pagaya US may redeem the Notes, in whole or in part, at the redemption prices set forth in the Indenture.

In addition, at any time prior to August 1, 2027, Pagaya US may, from time to time, redeem up to 40% of the aggregate principal amount of the Notes with an amount of cash not greater than the net cash proceeds from certain equity offerings at the redemption price set forth in the Indenture, if not less than 50% of the aggregate principal amount of the notes remains outstanding immediately after such redemption and the redemption occurs within 180 days of the closing date of such equity offering.

The Notes may be redeemed at the option of Pagaya US, in whole but not in part, at the principal amount thereof plus accrued and unpaid interest to, but not including, the redemption date, in certain circumstances in which the applicable Guarantor would become obligated to pay additional amounts under the Indenture.

If a Change of Control (as defined in the Indenture) occurs, Pagaya US must offer to repurchase all of the Notes at a purchase price equal to 101% of their principal amount, plus accrued and unpaid interest, if any, to, but not including, the repurchase date.

The Indenture contains covenants that limit the ability of the Company and any of its restricted subsidiaries (including Pagaya US) to, among other things:

• incur or guarantee additional indebtedness or issue certain preferred stock;

• pay dividends on capital stock or redeem, repurchase or retire our capital stock or subordinated indebtedness;

• transfer or sell certain assets;

• create certain liens;

• make certain investments;

• enter into agreements that restrict dividends or other payments from restricted subsidiaries to the Company;

• consolidate, merge or transfer all or substantially all of the Company’s assets;

• engage in certain transactions with affiliates; and

• designate unrestricted subsidiaries.

The Indenture also contains customary provisions relating to events of default.

A copy of the Indenture and form of Note are filed as Exhibit 4.1 and Exhibit 4.2, respectively, to this Current Report