BRIEF-Offerpad, A Leading Tech-Enabled Real Estate Solutions Platform, Announces Plans To Become Publicly Traded Via Merger With Supernova Partners Acquisition Company

Reuters

Mar 18, 2021

March 18 (Reuters) - Supernova Partners Acquisition Company, Inc. :

* OFFERPAD, A LEADING TECH-ENABLED REAL ESTATE SOLUTIONS PLATFORM, ANNOUNCES PLANS TO BECOME PUBLICLY TRADED VIA MERGER WITH SUPERNOVA PARTNERS ACQUISITION COMPANY

* OFFERPAD - TRANSACTION VALUES OFFERPAD AT A POST-TRANSACTION EQUITY VALUE OF APPROXIMATELY $3.0 BILLION

* OFFERPAD - TRANSACTION EXPECTED TO PROVIDE UP TO $650 MILLION IN GROSS CASH PROCEEDS, INCLUDING A FULLY COMMITTED PIPE OF $200 MILLION

* OFFERPAD - PIPE INVESTORS INCLUDE FUNDS & ACCOUNTS MANAGED BY BLACKROCK AND ZIMMER PARTNERS, AS WELL AS NATIONAL HOMEBUILDER TAYLOR MORRISON HOME CORP.

* OFFERPAD - WHEN DEAL CLOSES, PUBLICLY TRADED COMPANY WILL BE NAMED OFFERPAD SOLUTIONS INC.

* OFFERPAD - WHEN DEAL CLOSES, PUBLICLY TRADED CO'S CLASS A COMMON STOCK IS EXPECTED TO BE LISTED ON NEW YORK STOCK EXCHANGE UNDER TICKER "OPAD."

* OFFERPAD - EXISTING OFFERPAD SHAREHOLDERS WILL ROLL 100% OF EQUITY INTO COMBINED CO & ARE EXPECTED TO OWN ABOUT 75% OF COMBINED CO AT CLOSING

* OFFERPAD - CO'S FOUNDER & CEO, BRIAN BAIR, WILL RECEIVE HIGH VOTE STOCK THAT IS EXPECTED TO REPRESENT ABOUT 35% OF VOTING POWER OF COMBINED CO

Source text for Eikon: Further company coverage:

((Reuters.Briefs@thomsonreuters.com;))

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