Offerpad Solutions Inc.: Filed certificate of amendment to effect a 1-for-10 reverse stock split of Class A common stock (effective 2026-06-08).
“On June 8, 2026, the Company filed a certificate of amendment (the “Certificate of Amendment”) to its Fourth Restated Certificate of Incorporation (the “Certificate of Incorporation”) with the Secretary of State of the State of Delaware to effect the Reverse Stock Split, and the Company’s Common Stock began trading on a split-adjusted basis at market open on June 9, 2026 under the existing symbol “OPAD” and new CUSIP number 67623L 505.”
Shareholder Votes
Offerpad Solutions Inc. shareholders approved Approval of amendments to Certificate of Incorporation to effect a reverse stock split of Common Stock at ratio range of 1-for-5 to 1-for-50, subject to Board discretion to abandon at the 2026-06-03 meeting.
“Proposal 4 - Approval of amendments to the Certificate of Incorporation to effect a reverse stock split of the Common Stock at a ratio ranging from any whole number between 1-for-5 and 1-for-50, as determined by the Company’s Board of Directors (the “Board”) in its discretion, subject to the Board’s authority to abandon such amendments (the “Reverse Stock Split Amendment”). Votes FOR Votes AGAINST Votes ABSTAINED Broker Non-Votes 19,191,573 3,299,278 5,138,097 0”
Shareholder Votes
Offerpad Solutions Inc. shareholders approved Advisory (non-binding) approval of compensation of named executive officers at the 2026-06-03 meeting.
“Proposal 3 - Approval, on an advisory (non-binding) basis, of the compensation of the Company’s named executive officers. Votes FOR Votes AGAINST Votes ABSTAINED Broker Non-Votes 10,610,068 638,376 5,261,776 11,118,728”
Shareholder Votes
Offerpad Solutions Inc. shareholders approved Ratification of appointment of Deloitte & Touche LLP as independent registered public accounting firm for fiscal year 2026 at the 2026-06-03 meeting.
“Proposal 2 - Ratification of the appointment of Deloitte & Touche LLP (“Deloitte”) as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2026. Votes FOR Votes AGAINST Votes ABSTAINED Broker Non-Votes 21,756,195 741,462 5,131,291 0”
Shareholder Votes
Offerpad Solutions Inc. shareholders approved Election of two Class II directors for a term expiring at the 2029 annual meeting at the 2026-06-03 meeting.
“Proposal 1 - Election of two Class II directors for a term of office expiring on the date of the annual meeting of stockholders in 2029 and until their respective successors have been duly elected and qualified. NOMINEE Votes FOR Votes WITHHELD Broker Non-Votes Donna Corley 10,994,009 5,516,211 11,118,728 Tela Mathias 11,163,997 5,346,223 11,118,728”
Earnings Releases
Offerpad Solutions Inc. reported Q2 2026 results: revenue $80 million to $90 million. Guidance initiated.
“For the second quarter of 2026, Offerpad expects revenue in the range of $80 million to $90 million, with 300-350 real estate transactions (14-33% sequential increase), and anticipates Adjusted EBITDA to improve sequentially, reaching Adjusted EBITDA positive before the end of 2026.”
Earnings Releases
Offerpad Solutions Inc. reported three months ended March 31, 2026 results: revenue $80.1 million, net income ($10.1 million), EPS ($0.22).
“OPAD) , a leading tech-enabled real estate solutions company, today reported financial results for the first quarter ended March 31, 2026. During the quarter, Offerpad generated $80.1 million in revenue and closed 263 real estate transactions. Results reflect continued execution against the Company’s 2026 priorities, including growing engagement across its”
Listing & Compliance Notices
Offerpad Solutions Inc. received a nyse deficiency notice notice regarding minimum bid price (rules 802.01C).
“March 3, 2026, Offerpad Solutions Inc. (the “Company,” “we,” “us” or “our”) was notified by the New York Stock Exchange (the “NYSE”) that it is not in compliance with Section 802.01C of the NYSE Listed Company Manual because the average closing price of the Company’s Class A common stock was less than $1.00 over a consecutive 30 trading-day period. The notice does not result in the immediate delisting of the Company’s Class A common stock from the NYSE. On March 5, 2026, the Company notified the NYSE that it intends to cure the stock price deficiency and to return to compliance with the NYSE c”
Material Agreements
Offerpad Solutions Inc. entered into Placement Agency Agreement with A.G.P./Alliance Global Partners valued at 5.0% of aggregate gross proceeds from the sale of Shares; out-of-pocket expense reimbursement up to (effective 2026-01-11).
“On January 11, 2026, in connection with the foregoing transactions, the Company entered into a placement agency agreement (the “Placement Agreement”) with A.G.P./Alliance Global Partners (the “Placement Agent”) pursuant to which the Placement Agent served as the exclusive placement agent in connection with the Offering.”
Material Agreements
Offerpad Solutions Inc. entered into Securities Purchase Agreement with Purchasers named therein valued at 10,000,000 shares of Class A common stock at $1.80 per share, gross proceeds of $18.0 million (effective 2026-01-11).
“On January 11, 2026, Offerpad Solutions Inc., a Delaware corporation (the “Company”), entered into a securities purchase agreement (the “Purchase Agreement”) with the purchasers named therein (together, the “Purchasers”), providing for the issuance and sale by the Company of an aggregate of 10,000,000 shares (the “Shares”) of the Company’s Class A common stock, $0.0001 par value per share (the “Common Stock”).”
James Grout resigned as Senior Vice President, Finance at Offerpad Solutions Inc..
“On April 21, 2025, James Grout, Senior Vice President, Finance of the Company, notified the Company of his decision to resign, effective as of April 30, 2025, to pursue other opportunities.”
Brian Bair departed as Director at Offerpad Solutions Inc..
“On April 18, 2025, due to the unequal balance of membership among the Board classes, Brian Bair, who is a Class I director, resigned as a director, effective upon the conclusion of the Annual Meeting and the Board approved to re-elect Mr. Bair as Class III director, effective immediately thereafter.”
Donna Corley was appointed as Class II director at Offerpad Solutions Inc..
“on April 21, 2025, the Board, upon the recommendation of the Nominating and Corporate Governance Committee (the “Nominating Committee”) of the Board, appointed Donna Corley as a Class II director of the Company, with a term expiring at the 2026 Annual Meeting of Stockholders, and until her successor is elected and qualified or until her earlier death, resignation, disqualification or removal.”
Sheryl Palmer resigned as Director at Offerpad Solutions Inc..
“Sheryl Palmer has notified Offerpad Solutions Inc. (the “Company”) of her resignation from the Board of Directors (the “Board”) of the Company, effective upon conclusion of the Company’s 2025 Annual Meeting of Stockholders (the “Annual Meeting”).”
Listing & Compliance Notices
Offerpad Solutions Inc. received a nyse deficiency notice notice regarding market value (rules 802.01B).
“April 10, 2025, Offerpad Solutions Inc. (the “Company”) received written notice (the “NYSE Notification”) from the New York Stock Exchange (the “NYSE”) that the Company is not in compliance with Section 802.01B of the NYSE Listed Company Manual because the average global market capitalization of the Company over a consecutive 30 trading-day period and, at the same time, the Company’s last reported stockholders’ equity were each less than $50 million. The Company plans to notify the NYSE that it intends to submit a plan to cure the deficiency and to return to compliance with the NYSE continued”
James Grout changed role as Senior Vice President, Finance at Offerpad Solutions Inc..
“succeeding James Grout in such roles, effective on the Effective Date. Mr. Grout will otherwise continue to serve as Senior Vice President, Finance.”
Peter Knag was appointed as Chief Financial Officer at Offerpad Solutions Inc..
“appointed Peter Knag as the Company’s Chief Financial Officer, effective June 5, 2024”
Earnings Releases
Offerpad Solutions Inc. reported three months ended March 31, 2024 results: revenue $285.4M, net income ($17.5M), EPS ($0.64).
“about what the future holds.” Q1 2024 Financial Results (quarter over quarter) Q1 2024 Q4 2023 Percentage Change Homes acquired 806 678 19% Homes sold 847 712 19% Revenue $285.4M $240.5M 19% Gross profit $22.6M $16.7M 35% Net loss ($17.5M) ($15.4M) (13%) Adjusted EBITDA ($7.1M) ($7.0M) (1%) Diluted Net Loss per Share ($0.64) ($0.57) (12%) Gross profit”
Earnings Releases
Offerpad Solutions Inc. reported Q4 2023 results: revenue $240.5 million.
“X-99.1 Exhibit 99.1 Offerpad Reports Fourth Quarter and Full Year 2023 Results Q4 2023 revenue of $240.5 million up sequentially and in-line with guidance Full year 2023 revenue of $1.3 billion Reiterates expectation to achieve sustainable Adjusted EBITDA profitability in 2024 CHANDLER, Ariz.—(BUSINESS WIRE)— Offerpad Solutions Inc.”
Earnings Releases
Offerpad Solutions Inc. reported full year December 31, 2023 results: revenue $1.3 billion.
“X-99.1 Exhibit 99.1 Offerpad Reports Fourth Quarter and Full Year 2023 Results Q4 2023 revenue of $240.5 million up sequentially and in-line with guidance Full year 2023 revenue of $1.3 billion Reiterates expectation to achieve sustainable Adjusted EBITDA profitability in 2024 CHANDLER, Ariz.—(BUSINESS WIRE)— Offerpad Solutions Inc.”
Hiten Patel was appointed as principal accounting officer (interim) at Offerpad Solutions Inc..
“Hiten Patel, the Company’s Senior Vice President, Controller, to serve as principal accounting officer”
James Grout was appointed as principal financial officer (interim) at Offerpad Solutions Inc..
“designated James Grout, the Company’s Senior Vice President, Finance to serve as principal financial officer”
Jawad Ahsan departed as Chief Financial Officer and principal accounting officer at Offerpad Solutions Inc..
“On December 11, 2023, Offerpad Solutions Inc. (the “Company”) and Jawad Ahsan, the Company’s Chief Financial Officer and principal accounting officer, mutually agreed that Mr. Ahsan would separate from the Company, effective immediately.”
Listing & Compliance Notices
Offerpad Solutions Inc. received a nyse delisting notice notice regarding other (rules 802.01D).
“November 15, 2023, Offerpad Solutions Inc. (the “Company”) received notice (the “Notice”) from the New York Stock Exchange (the “NYSE”) that the Company’s warrants (the “Warrants”) are no longer suitable for listing based on “abnormally low” price levels, pursuant to Section 802.01D of the NYSE Listed Company Manual, and that the NYSE Regulation has determined to commence proceedings to delist the Warrants. Every 15 Warrants are presently exercisable for one share of the Company’s Class A common stock at an exercise price per share of $172.50, ticker symbol “OPADWS.” To effect the delisting, t”
Material Agreements
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).
“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.”
Material Agreements
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).
“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.”
Earnings Releases
Offerpad Solutions Inc. reported the three months ended September 30, 2023 results: revenue $234.2M, net income ($20.0M), EPS ($0.73). Guidance reaffirmed.
“improved to ($0.73) from ($0.82) Q3 2023 Financial Results (quarter over quarter) Q3 2023 Q2 2023 Percentage Change Homes acquired 930 840 11 % Homes sold 703 650 8 % Revenue $ 234.2M $ 230.1M 2 % Gross profit $ 24.0M $ 22.2M 8 % Net loss ($ 20.0M ) ($ 22.3M ) 11 % Adjusted EBITDA ($ 13.3M ) ($ 17.3M ) 23 % Gross profit per home sold $ 34,100 $ 34,200 0 %”
Material Agreements
Offerpad Solutions Inc. entered into Loan and Security Agreement with JPMorgan Chase Bank, N.A. (effective 2023-10-16).
“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”).”
Material Agreements
Offerpad Solutions Inc. amended Amendment No. 5 to Loan and Security Agreement and Reaffirmation of Guarantees with JPMorgan Chase Bank, N.A., AG Mortgage Value Partners Onshore Master Fund, L.P., AG Asset Based Credit Master Fund (B), L.P., AG TCDRS, L.P. and AG Centre Street Partnership, L.P. (effective 2023-09-05).
“On September 5, 2023, Offerpad SPE Borrower A, LLC, Offerpad SPE Borrower A Holdings, LLC, and Offerpad Holdings LLC (collectively, the “Offerpad Parties”), each a wholly owned subsidiary of Offerpad Solutions Inc. (“Offerpad”), and JPMorgan Chase Bank, N.A., AG Mortgage Value Partners Onshore Master Fund, L.P., AG Asset Based Credit Master Fund (B), L.P., AG TCDRS, L.P. and AG Centre Street Partnership, L.P. (each, a “Lender”) entered into Amendment No. 5 to Loan and Security Agreement and Reaffirmation of Guarantees (“Amendment No. 5"), which amends that certain Loan and Security Agreement, dated as of September 21, 2021”
Earnings Releases
Offerpad Solutions Inc. updated its the three and six months ended June 30, 2023 guidance (reaffirmed).
“On August 2, 2023, Offerpad Solutions Inc. issued a press release announcing its financial results for the three and six months ended June 30, 2023 and a Shareholder Letter.”
Michael Burnett was terminated as Chief Financial Officer at Offerpad Solutions Inc..
“Mr. Burnett is expected to remain with the Company in an advisory capacity through August 1, 2023 to assist with the transition.”
Jawad Ahsan was appointed as Chief Financial Officer at Offerpad Solutions Inc..
“the Board of Directors (the "Board") of Offerpad Solutions Inc. (the "Company" or "Offerpad") appointed Jawad Ahsan to succeed Michael Burnett as the Company’s Chief Financial Officer, effective July 10, 2023”
Material Agreements
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).
“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.”
Governance Changes
Offerpad Solutions Inc.: Amended and restated bylaws to align with charter amendments, reflect Rule 14a-19, and update procedural provisions regarding proxy solicitation, meeting adjournment, stockholder proposals, and nominations (effective 2023-06-13).
“On June 8, 2023, the Board also approved an amendment and restatement, of the Company’s bylaws (the “Amended and Restated Bylaws”) to: • make certain non-substantive, technical and conforming changes to align with the Amendments; • revise and adopt certain provisions to reflect Rule 14a-19 promulgated under the Securities Exchange Act of 1934, as amended; • require that a stockholder directly or indirectly soliciting proxies from other stockholders use a proxy card color other than white, which shall be reserved for exclusive use by the Board; • revise provisions regarding notice of an adjournment of any meeting of stockholders and the availability of the list of stockholders entitled to vote at a meeting of stockholders, each to align with recent amendments to the General Corporation Law of the State of Delaware; • clarify procedures for stockholders to propose business or nominations to be considered at annual or special meetings of the Company’s stockholders; and • delete certain ob”
Governance Changes
Offerpad Solutions Inc.: Filed a certificate of amendment to effect a 1-for-15 reverse stock split of common stock, effective June 13, 2023 (effective 2023-06-13).
“On June 12, 2023, the Company filed a certificate of amendment to its Third Restated Certificate of Incorporation (the “Certificate of Incorporation”) with the Secretary of State of the State of Delaware to effect the Reverse Stock Split, and the Company’s Class A Common Stock began trading on a split-adjusted basis at market open on June 13, 2023 under the existing symbol “OPAD” and new CUSIP number 67623L 307.”
Shareholder Votes
Offerpad Solutions Inc. shareholders approved Approval of amendment to provide that, prior to the Sunset Date, vacancies on the Board may be filled by a majority of the directors then in office or by a sole remaining director at the 2023-06-08 meeting.
“Proposal 5(c): Provide that, prior to the Sunset Date, vacancies on the Board may be filled by the affirmative vote of a majority of the directors then in office, even though less than a quorum, or by a sole remaining director, in addition to the stockholders. Votes FOR Votes AGAINST Votes ABSTAINED Broker Non-Votes 415,347,265 353,467 1,024,580 39,121,296”
Shareholder Votes
Offerpad Solutions Inc. shareholders approved Approval of amendment to revise the definition of the Sunset Date in the Certificate of Incorporation at the 2023-06-08 meeting.
“Proposal 5(b): Revise the definition of the "Sunset Date" in the Certificate of Incorporation to mean the first date on which LL Capital Partners I, L.P. and Roberto Sella (and their respective affiliates) cease to own, in the aggregate, 17.5% of the outstanding shares of our Class A Common Stock. Class Votes FOR Votes AGAINST Votes ABSTAINED Broker Non-Votes A 257,528,562 2,910,375 1,015,984 39,121,296 B 148,162,360 0 0 0 Total 412,789,682 2,910,375 1,015,984 39,121,296”
Shareholder Votes
Offerpad Solutions Inc. shareholders approved Approval of amendment to eliminate the authorization of and references to Class B Common Stock and Class C common stock and make related technical changes at the 2023-06-08 meeting.
“Proposal 5(a): Eliminate the authorization of and references to Class B Common Stock and Class C common stock and make related technical, non-substantive and conforming changes. Class Votes FOR Votes AGAINST Votes ABSTAINED Broker Non-Votes A 257,528,562 270,506 1,024,580 39,121,296 B 148,162,360 0 0 0 Total 415,420,955 270,506 1,024,580 39,121,296”
Shareholder Votes
Offerpad Solutions Inc. shareholders approved Approval of amendments to the Certificate of Incorporation to effect a reverse stock split of its Common Stock at a ratio ranging from any whole number between 1-for-10 and 1-for-60 at the 2023-06-08 meeting.
“Proposal 4 — Approval of amendments to the Certificate of Incorporation to effect a reverse stock split of its Common Stock at a ratio ranging from any whole number between 1-for-10 and 1-for-60, as determined by the Board in its discretion, subject to the Board's authority to abandon such amendments (the "Reverse Stock Split Amendment"). Votes FOR Votes AGAINST Votes ABSTAINED Broker Non-Votes 451,919,059 3,736,394 181,884 0”
Shareholder Votes
Offerpad Solutions Inc. shareholders approved Advisory (non-binding) approval of the compensation of the Company's named executive officers at the 2023-06-08 meeting.
“Proposal 3 — Approval, on an advisory (non-binding) basis, of the compensation of the Company's named executive officers. Votes FOR Votes AGAINST Votes ABSTAINED Broker Non-Votes 415,206,241 1,388,120 121,680 39,121,296”
Shareholder Votes
Offerpad Solutions Inc. shareholders approved Ratification of the appointment of Deloitte & Touche LLP as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2023 at the 2023-06-08 meeting.
“Proposal 2 — Ratification of the appointment of Deloitte & Touche LLP ("Deloitte") as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2023. Votes FOR Votes AGAINST Votes ABSTAINED Broker Non-Votes 455,463,870 269,720 103,747 0”
Shareholder Votes
Offerpad Solutions Inc. shareholders approved Election of three Class II directors for a term of office expiring on the date of the annual meeting of stockholders in 2026 at the 2023-06-08 meeting.
“Proposal 1 — Election of three Class II directors for a term of office expiring on the date of the annual meeting of stockholders in 2026 and until their respective successors have been duly elected and qualified. NOMINEE Votes FOR Votes WITHHELD Broker Non-Votes Katie Curnutte 416,025,402 690,639 39,121,296 Alexander M. Klabin 414,580,475 2,135,566 39,121,296”
Earnings Releases
Offerpad Solutions Inc. reported the three months ended March 31, 2023 results: revenue $609.6 million, net income ($59.4) million, EPS ($0.17). Guidance initiated.
“First Quarter 2023 Financial Results – compared with the prior quarter: • Revenue was $609.6 million compared to $677.2 million • Gross Profit (Loss) was $7.3 million compared to ($44.9) million • Net Loss was ($59.4) million compared to ($121.1) million • Adjusted EBITDA was ($44.8) million compared to ($103.7) million • Diluted Loss Per Share was ($0.17) compared to ($0.49) Q1 2023 Financial Results (Quarter over quarter) Q1 2023 Q4 2022 Percentage Change Homes acquired 364 539 (32 %) Homes sold 1,609 1,865 (14 %) Revenue $ 609.6M $ 677.2M (10 %) Gross profit (loss) 1 $ 7.3M ($ 44.9M ) n.a. Net loss 1, 2 ($ 59.4M ) ($ 121.1M ) 51 % Adjusted net loss 1 ($ 59.1M ) ($ 124.5M ) 53 % Adjusted EBITDA 1 ($ 44.8M ) ($ 103.7M ) 57 % Gross profit (loss) per home sold $ 4,500 ($ 24,100 ) n.a. Contribution loss after interest per home sold ($ 46,900 ) ($ 32,800 ) (43 %) Cash and cash equivalents $ 107.7M $ 97.2M 11 % 1 Includes $7.3 million charge in Q1 2023 and $44.1 million charge in Q4 2022 f”
Earnings Releases
Offerpad Solutions Inc. reported financial results for the quarter and fiscal year ended December 31, 2022.
“On February 22, 2023, Offerpad Solutions Inc. issued a press release announcing its financial results for the quarter and fiscal year ended December 31, 2022 and a Shareholder Letter.”
Shareholder Votes
Offerpad Solutions Inc. shareholders approved Approval of the issuance of pre-funded warrants to purchase shares of Class A common stock pursuant to the Subscription Agreement dated January 31, 2023 at the 2023-01-31 meeting.
“On January 31, 2023, stockholders of the Company (holding shares of common stock representing approximately 76% of the voting power of all outstanding shares of common stock) delivered to the Company an irrevocable written consent approving the Transaction.”
Material Agreements
Offerpad Solutions Inc. entered into Subscription Agreement with certain investors including Brian Bair, Roberto Sella, First American Financial Corporation, and Kenneth DeGiorgio valued at approximately $90.0 million (effective 2023-01-31).
“On January 31, 2023, Offerpad Solutions Inc. (the “Company”) entered into a pre-funded warrants subscription agreement (the “Subscription Agreement”) with the investors named therein (the “Investors”) pursuant to which the Company agreed to sell and issue to the Investors an aggregate of 160,742,959 pre-funded warrants (the “Warrants”) to purchase shares (the “Warrant Shares”) of the Company’s Class A common stock, par value $0.0001 per share (the “Class A Common Stock”).”
Debt Financings
Offerpad Solutions Inc. amended revolving credit of $75 million for Revolving Senior Loan (committed $50 million) and $52.5 million for Revolving Mezz Loan (committed $35 m with LL Private Lending Fund, L.P., LL Private Lending Fund II, L.P., and LL Funds, LLC maturing March 31, 2024.
“The Seventh Amended and Restated Agreement, among other things, extends the maturity of the Revolving Senior Loan and Revolving Mezz Loan (collectively, the “Loans”) to March 31, 2024, amends the interest rates applicable to the Loans, decreases the amount available under the Revolving Senior Loan from $85 million to $75 million (of which $50 million is committed) and increases the amount available under Revolving Mezz Loan from $14 million to $52.5 million (of which $35 million is committed).”
Material Agreements
Offerpad Solutions Inc. amended Seventh Amended and Restated Loan and Security Agreement with LL Private Lending Fund, L.P., LL Private Lending Fund II, L.P., and LL Funds, LLC (effective 2022-12-15).
“On December 16, 2022, 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 Seventh Amended and Restated Loan and Security Agreement, dated as of December 15, 2022”
Listing & Compliance Notices
Offerpad Solutions Inc. received a nyse deficiency notice notice regarding minimum bid price (rules 802.01C).
“November 15, 2022, Offerpad Solutions Inc. (the “Company,” “we,” “us” or “our”) was notified by the New York Stock Exchange (the “NYSE”) that it is not in compliance with Section 802.01C of the NYSE Listed Company Manual because the average closing price of the Company’s Class A common stock was less than $1.00 over a consecutive 30 trading-day period. The notice does not result in the immediate delisting of the Company’s Class A common stock from the NYSE. On November 16, 2022, the Company notified the NYSE that it intends to cure the stock price deficiency and to return to compliance with th”
Earnings Releases
Offerpad Solutions Inc. reported the third quarter ended September 30, 2022 results: revenue $821.7 million, net income $80.0 million. Guidance initiated.
“Third Quarter 2022 Financial Results – compared with the prior-year third quarter: • Revenue was $821.7 million compared to $540.3 million • Gross Profit was $2.2 million* compared to $53.1 million • Net Loss was $80.0 million* compared to $15.3 million”
Facts are extracted by an LLM and gated to those whose source quote is present verbatim in the filing text. Coverage is best-effort while backfill and monitoring mature; this is not yet a full-market index. See methodology.