Israeli fintech co Pagaya set for USD 9 Billion SPAC deal
EJF Acquisition Corp., a publicly traded SPAC company, is to enter into a business combination with fintech company, Pagaya Technologies, Ltd. on the largest Israeli SPAC transaction to date.
Pagaya enables financial institutions to expand access to more customers through its artificial intelligence network, and has raised USD 146 million to date including USD 102 million in a Series D financing round last year led by the Singapore Sovereign Wealth Fund (GIC).
As a result of the transaction, which values the combined company at an estimated enterprise value of approximately USD 8.5 billion at closing, Pagaya will become a publicly listed entity and trade under a new ticker symbol.
Herzog Fox & Neeman represented EJF, with the team led by Yair Geva, Ory Nacht and Michal Herzfeld, and includes Nesimyan Adawi, Nir Gal, Shachar Porat, Dr. Ehab Farah, Amir Cooper, Liat Maidler, Daniel Kaczelnik, Neta Dorfman, Irit Roth, Daniel Rosenblatt, Karen Elburg, Yuval Haimovich, Chen Arobas and Olga Pery.
