Offerpad enters $245M loan facility with JPMorgan; $122.5M committed, maturity July 2025

Offerpad Solutions Inc.

Senior facility of $200M ($100M committed) and mezzanine facility of $45M ($22.5M committed).
Maturity date of July 16, 2025; replaces prior 2021 loan agreement with substantially similar terms.
Borrowing entity is Offerpad SPE Borrower A, LLC, a wholly owned subsidiary of Offerpad Solutions Inc.

item 1.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Offerpad Solutions Inc. entered into Loan and Security Agreement with JPMorgan Chase Bank, N.A. (effective 2023-10-16).

Action: entry
Agreement: credit facility
Counterparty: JPMorgan Chase Bank, N.A.
Effective: 2023-10-16

Exact text from the filing

On October 16, 2023, Offerpad SPE Borrower A, LLC, as a borrower and borrower representative, a wholly owned subsidiary of Offerpad Solutions Inc., JPMorgan Chase Bank, N.A., as initial lender and administrative agent, Computershare Trust Company, N.A., as paying agent and calculation agent, and the other lenders party thereto entered into a Loan and Security Agreement (the “New Loan Agreement”).

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Offerpad Solutions Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-257768

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