{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-23-274494","form_type":"8-K","ticker":"OPAD","cik":"0001825024","company_name":"Offerpad Solutions Inc.","filed_at":"2023-11-09T23:59:59+00:00","discovered_at":"2026-05-14T18:03:30.768776+00:00","generated_at":"2026-06-08T07:30:54.735535+00:00","sec_items":["1.01","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.5,"calibrated_materiality_score":0.5,"confidence":"high","headline":"Offerpad amends loan agreements, extends maturities to 2025, reduces borrowing capacity","bullets":["Maturity of Revolving Senior and Mezz Loans extended to March 31, 2025, with Runoff Date to Sept 30, 2025.","Revolving Senior Loan capacity reduced from $75M to $50M ($30M committed).","Revolving Mezz Loan capacity reduced from $52.5M to $22M ($8M committed).","Mezzanine facility capacity reduced from $97.5M to $70M ($45M committed), maturity extended to June 7, 2025.","Lender LL Funds is affiliate of director and >5% holder Roberto Sella."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-23-274494","json":"https://secwatch.observer/filing/0001193125-23-274494.json","markdown":"https://secwatch.observer/filing/0001193125-23-274494.md","text":"https://secwatch.observer/filing/0001193125-23-274494.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1825024/000119312523274494/0001193125-23-274494-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1825024/000119312523274494/d201241d8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-08T07:30:54.735535+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":"19d0dcfda64d3a1d1c9ea5f505cf6db9209d02d2","claim":"Offerpad Solutions Inc. entered into Third Amended and Restated Mezzanine Loan and Security Agreement with LL Private Lending Fund II, L.P. (effective 2023-11-06).","evidence_excerpt":"Also on November 6, 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 the Company, entered into the Third Amended and Restated Mezzanine Loan and Security Agreement, dated as of November 6, 2023 (the “Third Amended and Restated Mezzanine Agreement”), which amends that certain Second Amended and Restated Mezzanine Loan and Security Agreement, dated as of December 16, 2021, by and among SPE, PHX1, TPA1 and LL Private Lending Fund II, L.P., as lender, as amended.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1825024/000119312523274494/0001193125-23-274494-index.htm","confidence":0.99,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"LL Private Lending Fund II, L.P."},{"label":"Effective","value":"2023-11-06"}],"fact_type":"material_agreement"},{"claim_id":"cdda8ca16728c071536d677c7a0582d58a674649","claim":"Offerpad Solutions Inc. entered into Eighth Amended and Restated Loan and Security Agreement with LL Private Lending Fund, L.P., LL Private Lending Fund II, L.P., LL Funds, LLC (effective 2023-11-06).","evidence_excerpt":"On November 6, 2023, Offerpad (SVPBORROWER1), LLC, as borrower (“SPV1”), a wholly owned subsidiary of Offerpad Solutions Inc. (the “Company”), and LL Private Lending Fund, L.P., as a lender under the Revolving Senior Loan, LL Private Lending Fund II, L.P., as a lender under the Revolving Mezz Loan, and LL Funds, LLC, as collateral agent, (collectively, the “LL Funds”), entered into the Eighth Amended and Restated Loan and Security Agreement, dated as of November 6, 2023 (the “Eighth Amended and Restated Agreement”), which amends and restates that certain Seventh Amended and Restated Loan and Security Agreement, dated as of December 16, 2022, by and among SPV1 and the LL Funds.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1825024/000119312523274494/0001193125-23-274494-index.htm","confidence":0.99,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"LL Private Lending Fund, L.P., LL Private Lending Fund II, L.P., LL Funds, LLC"},{"label":"Effective","value":"2023-11-06"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}