{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-23-170195","form_type":"8-K","ticker":"OPAD","cik":"0001825024","company_name":"Offerpad Solutions Inc.","filed_at":"2023-06-20T23:59:59+00:00","discovered_at":"2026-05-14T18:03:40.912332+00:00","generated_at":"2026-06-13T21:40:45.413002+00:00","sec_items":["1.01","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.55,"calibrated_materiality_score":0.55,"confidence":"high","headline":"Offerpad extends credit facility maturity from June 7, 2024 to June 16, 2025","bullets":["Extends maturity of credit facility from June 7, 2024 to June 16, 2025.","Adds Non-Utilization Fee to be defined in Pricing Side Letter.","Modifies Change of Control definition to include 49% voting stock threshold for Guarantor (Offerpad Solutions Inc.).","Borrowers represent no default or event of default has occurred.","Amendment executed by Offerpad subsidiaries, Citibank, N.A., and Wells Fargo."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-23-170195","json":"https://secwatch.observer/filing/0001193125-23-170195.json","markdown":"https://secwatch.observer/filing/0001193125-23-170195.md","text":"https://secwatch.observer/filing/0001193125-23-170195.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1825024/000119312523170195/0001193125-23-170195-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1825024/000119312523170195/d480687d8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-13T21:40:45.413002+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"3a3abc70bcbc260dce0c4e35f0c25e9d34be6e8a","claim":"Offerpad Solutions Inc. amended Amendment Number Three to the Third Amended and Restated Master Loan and Security Agreement with Citibank, N.A., as lender, and Wells Fargo, N.A., as calculation agent and paying agent (effective 2023-06-16).","evidence_excerpt":"On June 16, 2023, OP SPE Borrower Parent, LLC (“SPE”), as borrower, OP SPE PHX1, LLC (“PHX1”), as borrower, and OP SPE TPA1, LLC (“TPA1”), as borrower, each an indirect wholly owned subsidiary of Offerpad Solutions Inc., entered into Amendment Number Three to the Third Amended and Restated Master Loan and Security Agreement, dated as of June 16, 2023 (the “Amendment”), which amends that certain Third Amended and Restated Master Loan and Security Agreement, dated as of June 7, 2022, by and among SPE, PHX1, TPA1, Citibank, N.A., as lender, and Wells Fargo, N.A., as calculation agent and paying agent.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1825024/000119312523170195/0001193125-23-170195-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"amendment"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"Citibank, N.A., as lender, and Wells Fargo, N.A., as calculation agent and paying agent"},{"label":"Effective","value":"2023-06-16"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}