Pagaya Improving Marketability of Stock

Pagaya (PGY) is taking a number of steps intended to improve the marketability of their stock.

  1. As an Israeli company they are not required to file 8-K, 10-Q, etc. However, starting with 1Q24 they will file all the SEC required US issuer forms.
  2. It is the intention of the board to implement a reverse split on the order of 10:1 - 15:1 depending upon shareholder approval and market conditions. The reverse split will cause the stock price to conform to acquisition requirements of most institutional investors.
  3. They will move the corporate headquarters to NYC as most of their business and investors are located in the US.

I do not hold Pagaya stock, but I do hold some PGY LEAPs.