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Announced

Completed

Offerpad went public via a SPAC merger with Supernova Partners Acquisition in a $2.37bn deal.

Financials

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Transaction Value£1,702m
Consideration TypeCash, Ordinary Shares
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Private

Merger

Single Bidder

Acquisition

Majority

real estate investment company

Domestic

Real Estate Services

United States

De-SPAC

Friendly

Completed

Private Equity

Reverse Takeover

Synopsis

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Offerpad, a real estate investment company, went public via a SPAC merger with Supernova Partners Acquisition, a special purpose acquisition company, in a $2.37bn deal. Investor in PIPE include Taylor Morrison Home, BlackRock and Zimmer Partners. "We are taking home buying and selling from chaotic to controlled, from expensive to efficient, and from the past straight into the future. We are just getting started. We have a superior team, combining strong technology backgrounds and real estate experience in every kind of real estate cycle, with the skills and vision to operate as a highly capital-efficient company in our industry. We are excited about the tremendous opportunity ahead of us as more and more buyers and sellers opt for our digital-first experience," Brian Bair, Offerpad CEO and Founder.

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