Offerpad Inc. has entered into a definitive merger agreement with Supernova Partners Acquisition Company Inc., a publicly traded special purpose acquisition company. When the transaction closes, the publicly traded company will be named Offerpad Solutions Inc. and its Class A common stock is expected to be listed on the New York Stock Exchange under the ticker “OPAD.”

Brian Bair, CEO and founder, Offerpad, said “I’ve been in real estate for decades and always knew there would be a better way to sell and buy homes. iBuying is coming into its moment, as consumers increasingly want to transact online. At Offerpad, we combine the technology that makes it possible, with local real estate experts that provide fantastic customer service to sellers and buyers—all of which allows us to turn over homes more efficiently than anyone else in the category. Our team’s combination of grit and real estate experience have helped us complete around 30,000 transactions and achieve nearly $7 billion in gross transaction volume since inception, and we are now poised for fast growth as a public company.”

Spencer Rascoff, co-chair of Supernova, added, “iBuying has barely scratched the surface of real estate, one of the biggest addressable markets in the world. In general, real estate continues to be mostly analog, in contrast to other industries like grocery, autos and pharmaceuticals, but consumers demand online solutions. As they bring more transactions online, we believe online real estate as a whole is poised to grow rapidly in the coming years and that Offerpad is incredibly well-positioned to grab a huge piece of this market.”


J.P. Morgan Securities LLC
is serving as exclusive financial advisor to Offerpad. Latham & Watkins LLP is serving as legal counsel to Offerpad. Jefferies LLC is serving as exclusive financial advisor to Supernova. J.P. Morgan Securities LLC and Jefferies LLC are serving as exclusive capital markets advisors to Supernova. Simpson Thacher & Bartlett LLP is serving as legal counsel to Supernova. J.P. Morgan Securities LLC and Jefferies LLC served as placement agents for the PIPE financing. Skadden, Arps, Slate, Meagher & Flom LLP served as counsel to the placement agents.