Congratulations to our client, EJF Acquisition Corp., on the largest Israeli SPAC transaction to date! On Wednesday, EJF, a publicly traded special purpose acquisition company, signed an agreement to enter into a business combination with Pagaya Technologies, Ltd., a financial technology company that enables financial institutions to expand access to more customers through its artificial intelligence network. As a result of the transaction, which values the combined company at an estimated enterprise value of approximately $8.5 billion at closing, Pagaya will become a publicly listed entity and trade under a new ticker symbol.

Our team is 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, Danny Rosenblatt, Karen Elburg, Yuval Haimovich, Chen Arobas and Olga Pery.