OPAD - Offerpad Solutions enters into $90M private placement
- Offerpad Solutions ( NYSE: OPAD ) has entered into subscription agreements with a group of private investors, together with CEO Brian Bair and existing stockholders Roberto Sella and First American Financial, to purchase an aggregate of ~160.7M prefunded warrants to purchase Offerpad’s Class A common stock.
- Each warrant was sold at a price of $0.5599/warrant, with an initial exercise price of $0.0001/warrant and was calculated based on a 20% discount to the 5-day closing price average on January 27, 2023.
- The Company plans to use the proceeds from the private placement for general corporate purposes.
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Offerpad Solutions enters into $90M private placement