Company: PGYWW
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001883085-25-000195
Chunk: 165

Company: Pagaya Technologies Ltd.
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 8
Chunk 165
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 $— $177,554 $177,554 Exchangeable notes146,342 — 163,360 — 163,360 Long-term debt321,317 — — 366,396 366,396  (1) Accrued interest receivable of $14.3 million, previously reported within “Fee 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 September 30, 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 September 30, 2025, the Company had 2,027,147 Preferred Shares outstanding, 68,839,327 Class A Ordinary Shares outstanding and 11,288,577 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 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 September 30, 2025 and December 31, 2024, the Company had reserved ordinary shares for future issuance as follows: September 30, 2025December 31, 2024Share options3,232,3114,042,901Options to restricted shares19,897,46919,948,408RSUs2,490,8123,009,918Ordinary share warrants3,385,6402,372,858Redeemable convertible preferred shares2,027,1475,000,000Exchangeable notes11,434,70411,434,704Shares available for future grant of equity awards(1)10,055,4588,121,438Shares reserved for issuance under the ESPP733,470832,713 Total shares of ordinary share reserved53,257,011 54,762,940 (1) Reflects the application of the automatic