Offerpad Solutions Inc. Enters Ninth Amended Loan and Security Agreement to Adjust Borrowing Terms

Reuters
05-13
<a href="https://laohu8.com/S/OPADW">Offerpad Solutions Inc.</a> Enters Ninth Amended Loan and Security Agreement to Adjust Borrowing Terms

Offerpad Solutions Inc. has announced the entry into a significant material definitive agreement. On May 6, 2025, its wholly-owned subsidiary, Offerpad (SVPBORROWER1), LLC, entered into the Ninth 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. This agreement updates the previous agreement from November 6, 2023, and involves changes such as revising the maturity of loans to August 31, 2025, and aligning covenants with the company's other debt agreements. Additionally, a Fourth Amended and Restated Mezzanine Loan and Security Agreement was also executed, reducing borrowing capacity and aligning terms with other company debts. These agreements represent a strategic financial restructuring to optimize Offerpad's debt management.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Offerpad Solutions Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001193125-25-117812), on May 12, 2025, and is solely responsible for the information contained therein.

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