Pagaya and EJF SPAC Merger Completed Despite Ongoing Confusion

Earlier this year, a SPAC merger between Israeli fintech unicorn Pagaya and capital market company EJF Acquisition Corp. looked like a solid bet for both companies. With Pagaya earning a valuation of $8.5 billion and the fintech eagerly advancing to an IPO, EJF was sure enough about the combination that it was willing to upside its equity PIPE to $350 million...