Company: PGYWW
Filing Date: 2025-12-05
Form Type: S-3ASR
Source: 0000950103-25-015781
Chunk: 9

Company: Pagaya Technologies Ltd.
Filing Date: 2025-12-05
Form: S-3ASR
Chunk 9
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 performance of our technology to consistently meet return expectations of asset investors in Financing Vehicles; |

| · | our ability to improve, operate and implement our AI technology, including as we expand into new asset classes; |

| · | competition in attracting and onboarding new partners and raising capital from asset investors through Financing Vehicles given the      
 current limited number of partners that account for a substantial portion of the total number of the financial products facilitated with 
 the assistance of our AI technology;                                                                                                     |

| · | potential difficulties in retaining our current management team and other key employees and independent contractors, including highly-skilled 
 technical experts;                                                                                                                            |

| · | our estimates of our future financial performance; |

| · | changes in the political, legal and regulatory framework related to AI technology, machine learning; financial institutions and consumer 
 protection;                                                                                                                              |

| · | the impact of health epidemics, natural disasters, acts of terrorism or other catastrophic events; |

| · | our ability to realize the potential benefits of past or future acquisitions; |

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| · | conditions related to our operations in Israel; |

| · | risks related to data, security and privacy; |

| · | changes to accounting principles and guidelines; |

| · | our ability to develop and maintain effective internal controls; |

| · | the ability to maintain the listing of our securities on Nasdaq; |

| · | the price of our securities has been and may continue to be volatile; |

| · | unexpected costs or expenses; |

| · | future issuances, sales or resales of Class A Ordinary Shares; |

| · | an active public trading market for Class A Ordinary Shares may not be sustained; and |

| · | other risks and uncertainties set forth in this prospectus and in the documents incorporated by reference herein. |

We caution you not to rely on forward-looking
statements, which reflect current beliefs and are based on information currently available as of the date on the cover of this prospectus,
the date of any prospectus supplement, or, in the case of forward-looking statements incorporated by reference, the date of the filing
document that includes the applicable statement. We undertake no obligation to revise forward-looking statements to reflect future events,
changes in circumstances or changes in beliefs except to the extent required by law. In the event that any forward-looking statement is
updated, no inference should be made that we will make additional updates with respect to that statement, related matters, or any other
forward-looking statements except to the