EJF Acquisition shareholders voted in favor of merging with Pagaya Technologies, a global company building artificial intelligence infrastructure for the financial ecosystem.
The business combination is expected to close tomorrow. Pagaya Technologies Ltd. shares and warrants would then begin trading on the Nasdaq under PGY and PGYWW.
There was no mention of redemptions, if any, in the press release and EJF has yet to file an 8-K disclosing vote results following the June 17 shareholder meeting.
The SPAC said last month that as a result of PIPE commitments it would have more than enough funding to satisfy the $200 million minimum cash closing condition, regardless of any redemptions.
Announced last September, the deal was expected to have an estimated enterprise value of approximately $8.5 billion at closing.
Existing Pagaya equity holders, including current investors and employees of the firm, are expected to retain an approximately 94% ownership stake. Read more.
