Offerpad Solutions Inc. announced it has entered into a securities purchase agreement for a $6 million registered direct offering. The offering involves the sale of 2,857,143 shares of its common stock, or common stock equivalents, at a purchase price of $2.10 per share to a single institutional investor. The closing of the offering is expected to occur on or about July 25, 2025.
Concurrently, Offerpad agreed to issue to the same investor warrants to purchase up to 1,428,571 shares of its common stock. These warrants have an exercise price of $2.30 per share, will be exercisable six months from issuance, and will expire four years after the initial exercise date. The gross proceeds from these offerings are expected to be approximately $6 million.
The company intends to use the net proceeds from these offerings for general working capital purposes. A.G.P./Alliance Global Partners is acting as the sole placement agent for the offerings.
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