Offerpad Solutions enters into $90M private placement

Offerpad Solutions "announced that it 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 Corporation, to purchase an aggregate of 160,742,959 prefunded warrants to purchase Offerpad’s Class A common stock. Each warrant was sold at a price of $0.5599 per warrant, with an initial exercise price of $0.0001 per warrant, subject to certain customary anti-dilution adjustment provisions, 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."