Pagaya Technologies Ltd (NASDAQ:PGY) shares are trading lower by 21.9% to $9.73 during Thursday's session after the company announced its intention to offer $125 million of exchangeable senior notes due 2029 in a private offering.

What Else: Pagaya Technologies subsidiary, Pagaya US Holding Company LLC, plans to offer $125 million in exchangeable senior notes due 2029 in a private offering to institutional buyers. Additionally, the company may grant buyers an option to purchase up to an additional $18.75 million in notes.

These unsecured notes will accrue interest semi-annually and mature on October 1, 2029. They are exchangeable under specific conditions into cash, Class A shares, or a combination of both.

The notes are not redeemable until October 2027, after which they can be redeemed if Pagaya's share price exceeds 130% of the exchange price.

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Should I Sell My PGY Stock?

When deciding to hold on to or sell a stock, investors should consider their time horizon, unrealized gains and total return.

Shares of Pagaya Technologies have decreased by 47.31% in the past year. An investor who bought shares of Pagaya Techs at the beginning of the year would take a loss of $5.61 per share if they sold it today. The stock has fallen 23.51% over the past month, meaning an investor who bought shares on Aug. 1 would see a capital loss of $3.58.

Pagaya Techs shares have an all-time high of $359.4, representing 3497.6% upside from current levels.

Investors may also consider market dynamics. The Relative Strength Index can be used to indicate whether a stock is overbought or oversold. Pagaya Techs stock currently has an RSI of 55.44, indicating neutral conditions.

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According to data from Benzinga Pro, PGY has a 52-week high of and a 52-week low of