Offerpad Solutions Inc. 8-K

What Happened

• Offerpad Solutions Inc. filed a Form 8-K (dated June 4, 2026) reporting that at its June 3, 2026 annual meeting shareholders approved a reverse stock split in a ratio between 1-for-5 and 1-for-50. The Board elected a 1-for-10 reverse stock split, expected to be effective June 8, 2026 at 5:00 p.m. ET. Shares will trade on a split-adjusted basis on the NYSE at market open June 9, 2026 under the existing ticker OPAD and new CUSIP 67623L 505.

Key Details

• Reverse split ratio: 1-for-10 (every 10 shares automatically converted into 1 share).
• Effective time/trading: Effective June 8, 2026 at 5:00 p.m. ET; split-adjusted trading begins June 9, 2026.
• Fractional shares: No fractional shares will be issued; holders entitled to fractional shares will receive a cash payment equal to the fractional share times the NYSE closing price on the Effective Time.
• Equity and warrants: Outstanding equity awards and shares issuable under incentive plans will be proportionately adjusted (including exercise prices or price goals). Public and private warrants will have adjusted share counts and prices per their agreements—public warrant purchase price adjusted to the nearest cent and shares rounded down; private warrant exercise price proportionately increased and shares rounded up.
• Filing/press release: Company issued a press release on June 4, 2026 announcing the Reverse Stock Split (Exhibit 99.1 to the 8-K).

Why It Matters

• A reverse stock split reduces the number of outstanding shares and increases the per-share basis, which can affect market price, per-share metrics, and liquidity. It also changes the share counts and exercise prices for equity awards and the economics of outstanding warrants. Investors should note the Effective Time (June 8, 2026) for record and trading purposes and expect cash payments for any fractional share entitlements.