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.
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