Offerpad Solutions Inc. has announced a significant amendment to its financial agreements involving its indirect wholly owned subsidiaries and Citibank, N.A. Under the revised terms of the Third Amended and Restated Master Loan and Security Agreement, the senior facility uncommitted amount has been reduced from $375 million to $175 million. This adjustment impacts OP SPE Borrower Parent, LLC, OP SPE PHX1, LLC, and OP SPE TPA1, LLC, in their borrowing capacity arrangements with Citibank, N.A., indicating a strategic financial restructuring for the company.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.