Offerpad Receives Notice of Non-Compliance with NYSE Trading Share Price Listing Rule
Offerpad Solutions Inc. (NYSE: OPAD) received a notice from the NYSE for non-compliance with the $1.00 stock price requirement over a 30-day trading period. The company's Class A common stock remains listed and trading during this period. Offerpad aims to regain compliance by achieving the required average closing price within six months. A reverse stock split is among the potential options to rectify the situation, pending stockholder approval. The company remains committed to its mission of providing a superior home buying and selling experience.
- Continued listing and trading of Class A common stock on the NYSE.
- Opportunity to cure the stock price deficiency within six months.
- Received non-compliance notice from the NYSE due to stock price falling below $1.00.
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The Company’s Class A common stock will continue to be listed and trade on the NYSE during this period, subject to the Company’s compliance with other NYSE continued listing standards.
About Offerpad
Offerpad’s mission is to deliver the best home buying and selling experience so you can spend less time ‘real estat-ing’ and more time living. From cash offers and flexible listing options to mortgages and buyer services, Offerpad has been helping homeowners since 2015. We pair our local expertise in residential real estate with proprietary technology to put you in control of the process and help find the right solution that fits your needs. Visit Offerpad.com for more information.
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Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements express a belief, expectation or intention and are generally accompanied by words that convey projected future events or outcomes. For example, statements regarding the Company’s intention to consider alternatives to cure the NYSE continued listing requirement deficiency are forward-looking statements. We have based these forward-looking statements on our current expectations and assumptions and analyses made by us in light of our experience and our perception of historical trends, current conditions and expected future developments, as well as other factors we believe are appropriate under the circumstances. However, whether actual results and developments will conform with our expectations and predictions is subject to a number of risks and uncertainties, many of which are beyond our control, including the Company’s ability to regain compliance with the continued listing standards of the NYSE within the applicable cure period, the Company’s ability to continue to comply with applicable listing standards of the NYSE, and the other factors set forth in the Company’s Annual Report on Form 10-K for the year ended
View source version on businesswire.com: https://www.businesswire.com/news/home/20221118005047/en/
Investors
Investors@offerpad.com
Media
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Source: Offerpad
FAQ
What does the NYSE notice mean for Offerpad Solutions Inc. (OPAD)?
How long does Offerpad have to regain compliance with the NYSE listing requirements?
What options does Offerpad have to address the stock price deficiency?
Is Offerpad at risk of being delisted from the NYSE?