Pagaya, a FinTech valued at $8.5bn, will complete its Special Purpose Acquisition Company (SPAC) merger this week.
Pagaya is an Israeli FinTech offering AI-powered credit analysis.
It will begin trading on the NASDAQ later this week following a merger with EJF Acquisition Corp.
EJF originally brought $288mn into the transaction.
What does this mean?
Many investors became involved in the Private Investment into Public Equity (PIPE) including names like Tiger Global and Singapore’s sovereign wealth fund.