Company: PGYWW
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001883085-25-000082
Chunk: 26

Company: Pagaya Technologies Ltd.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 1
Chunk 26
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able notes146,342 — 163,360 — 163,360 Secured borrowing176,089 — — 177,554 177,554  (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.

NOTE 11 - ORDINARY SHARES AND ORDINARY SHARE WARRANTS 

As of March 31, 2025, 839,999,998 shares with no par value are authorized, of which, 6,666,666 shares are designated as Preferred Shares, 666,666,666 shares are designated as Class A Ordinary Shares, and 166,666,666 shares are designated as Class B Ordinary Shares. As of March 31, 2025, the Company had 5,000,000 Preferred Shares outstanding, 62,778,642 Class A Ordinary Shares outstanding and 12,652,310 Class B Ordinary Shares outstanding. The rights of the holders of each class of Ordinary Shares are identical, except with respect to voting. Each Class A Ordinary Share is entitled to one vote per share. Each Class B Ordinary Share is entitled to 10 votes per share. Class B Ordinary Shares 

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may be converted at any time at the option of the stockholder and automatically convert upon sale or transfer to a Class A Ordinary Share.  As of March 31, 2025 and December 31, 2024, the Company had reserved ordinary shares for future issuance as follows: March 31, 2025December 31, 2024Share options3,611,9954,042,901Options to restricted shares19,923,75619,948,408RSUs3,959,3563,009,918Ordinary share warrants2,599,8622,372,858Redeemable convertible preferred shares5,000,0005,000,000Exchangeable notes11,434,70411,434,704Shares available for future grant of equity awards(1)9,917,2268,121,438Shares reserved for issuance under the ESPP776,837832,713 Total shares of ordinary share reserved57,223,736 54,762,940 (1) Reflects the application of the automatic increase of shares reserved under the Company's 202