Offerpad Solutions sells 2.86M shares at $2.10 to institutional investor

Offerpad Solutions (OPAD) said it entered into a securities purchase agreement with a single institutional investor for the purchase and sale of 2.86M shares of its common stock in a registered direct offering at a purchase price of $2.10 per share. Alliance Global Partners is acting as the sole placement agent. The gross proceeds are expected to be $6M and Offerpad expects to use it for general working capital.