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Home-selling platform Offerpad to go public in $3 billion SPAC deal

The deal with Zillow co-founder Spencer Rascoff-backed Supernova Partners Acquisition Company Inc will fetch $650 million in proceeds for Offerpad

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Offerpad, which expects revenue of $1.4 billion in 2021, said the company will be listed on the New York Stock Exchange under the ticker "OPAD", after the deal closes

Reuters

1 min read Last Updated : Mar 18 2021 | 10:04 PM IST

Offerpad Inc said on Thursday it would go public through a merger with a blank-check company, in a deal that values the equity of the home-selling platform at $3 billion.

The deal with Zillow co-founder Spencer Rascoff-backed Supernova Partners Acquisition Company Inc will fetch $650 million in proceeds for Offerpad. This includes a private investment of $200 million from affiliates of Supernova, funds managed by BlackRock Inc, homebuilder Taylor Morrison Home Corp and others.

Offerpad, which expects revenue of $1.4 billion in 2021, said the company will be listed on the New York Stock Exchange under the ticker "OPAD", after

Topics : listing Companies stock market

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