SplitJun 4, 2026, 04:12 PM
Offerpad Announces 1-for-10 Reverse Stock Split Effective June 8
AI Summary
Offerpad Solutions Inc. announced a 1-for-10 reverse stock split of its Class A common stock, approved by stockholders on June 3, 2026, and subsequently by the Board. The split is expected to become effective on June 8, 2026, with trading on a split-adjusted basis beginning June 9, 2026, under the existing symbol OPAD. This action is intended to increase the per share trading price to meet NYSE listing requirements. Fractional shares will be paid in cash, and proportionate adjustments will be made to equity awards and warrants.
Key Highlights
- Stockholders approved a reverse stock split ratio between 1-for-5 and 1-for-50 on June 3, 2026.
- Board of Directors approved a 1-for-10 reverse stock split of the Company's Common Stock.
- The Reverse Stock Split is expected to become effective on June 8, 2026, at 5:00 p.m. ET.
- Split-adjusted trading will begin on the NYSE on June 9, 2026, under the existing symbol OPAD.
- The new CUSIP number for the Common Stock following the split will be 67623L 505.
- No fractional shares will be issued; stockholders will receive a cash payment in lieu thereof.
- Proportionate adjustments will be made to outstanding equity awards, incentive plans, and warrants.
- The split is intended to increase the per share trading price to satisfy NYSE listing requirements.
Price Impact
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