OPAD - Offerpad to effect 1-for-15 reverse stock split to regain compliance with NYSE rules

2023-06-08 16:27:18 ET

• Offerpad Solutions ( NYSE: OPAD ) said on Thursday that the residential real estate platform will effect a 1-for-15 reverse stock split of its class A and class B shares to regain compliance with NYSE rules.
• The reverse stock split is effective June 12, 5:00 PM ET.
• The split-adjusted class A shares will open for trading on NYSE on June 13 under the trading symbol OPAD. The new CUSIP number for the class A shares will be 67623L 307.
• The company's shareholders had approved the reverse stock split at the June 8 annual meeting.
• The move is intended to increase the per share trading price of the company's class A shares to satisfy NYSE's continued listing requirements.
• OPAD shares were trading +1.58% post-market.
• Source: Press Release

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