Offerpad Solutions increases credit facility to $600M, extends maturity, and announces executive transitions

Offerpad Solutions Inc.

Borrowing capacity increased from $400M to $600M and maturity extended to June 2024 under Third Amended and Restated Master Loan and Security Agreement.
Stephen Johnson transitions from COO to Chief Strategy Officer effective June 2, 2022.
CFO Michael Burnett and CLO Benjamin Aronovitch entered amended employment agreements with base salaries of $400,000 and $375,000, respectively.
At annual meeting, shareholders elected three Class I directors (Bair, Sella, DeGiorgio) and ratified Deloitte & Touche as auditor for fiscal 2022.
Shareholders recommended a say-on-pay vote every year; Board adopted that frequency.

item 1.01 item 2.03 item 5.02 item 5.07 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Role change

Stephen Johnson

Chief Strategy Officer

OPAD · Offerpad Solutions Inc.

Effective: 2022-06-02
Filed: June 7, 2022, 7:59 PM ET

Effective June 2, 2022, Stephen Johnson, the Company’s former Chief Operating Officer, transitioned to the role of Chief Strategy Officer to further support the Company’s strategic efforts and priorities.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Stephen Johnson changed role as Chief Strategy Officer at Offerpad Solutions Inc..

Action: transitioned
Role: Chief Strategy Officer

Exact text from the filing

Effective June 2, 2022, Stephen Johnson, the Company’s former Chief Operating Officer, transitioned to the role of Chief Strategy Officer to further support the Company’s strategic efforts and priorities.

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Offerpad Solutions Inc. filing history →

Source: SEC EDGAR

accession 0001193125-22-169305

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