Offerpad Solutions Inc. (OPAD) Form 8-K — Oct 13, 2026
$OPADForm 8-KItems 1.01, 2.03, 9.01Filed Oct 13, 2026, 4:32 PM ET0001193125-26-420502Original filing
On October 7, 2026, Offerpad Solutions' subsidiary OP SPE Summit, LLC amended and restated its revolving loan agreement with lenders WHGG II Trust and Ascent Developer Solutions LLC, increasing total borrowing capacity from $150 million to $200 million. The facility funds acquisition and renovation of residential properties, with per-property advances capped at $2 million and a 50% construction holdback. Maturity is August 1, 2027, with a six-month extension option available to the borrower.
Key figures
- Debt Amount
- $200,000,000 revolving borrowing capacity (increased from $150 million)
- Prior capacity
- $150 million
- Aged advance cap
- $5,000,000 or 5% of outstanding principal
- Extended maturity
- six months after Original Maturity Date
- Note max principal
- $57,702,574 (Fifth A&R Revolving Promissory Note)
- Non reno advance cap
- $15,000,000 or 10% of outstanding principal
- Construction holdback
- 50% of project cost
- Original maturity date
- August 1, 2027
- Max construction budget pct
- 30% of Maximum Available Loan Funds
- Acquisition fee reno option 1
- $1,200 per property
- Acquisition fee reno option 2 3
- $1,400 per property
AI analysis
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