Offerpad boosts loan capacity to $150M

Offerpad Solutions Inc. (OPAD) disclosed that its wholly owned subsidiary OP SPE SUMMIT, LLC entered into a First Amendment to its Second Amended and Restated Revolving Loan Agreement with WHGG II TRUST and ASCENT DEVELOPER SOLUTIONS LLC as Lender.

Rhea-AI Filing Summary

Offerpad Solutions Inc. (OPAD) disclosed that its wholly owned subsidiary OP SPE SUMMIT, LLC entered into a First Amendment to its Second Amended and Restated Revolving Loan Agreement with WHGG II TRUST and ASCENT DEVELOPER SOLUTIONS LLC as Lender. The amendment increases the Loan’s principal uncommitted borrowing capacity from $100 million to $150 million.

The amended facility includes customary representations, warranties and covenants, including a financial covenant that limits OP SPE’s ability to incur additional indebtedness, and customary events of default that can lead to termination of the Loan and acceleration of outstanding borrowings. The amendment is filed as Exhibit 10.1.

8-K Event Classification

3 items: 1.01, 2.03, 9.01

3 items

Item 1.01 Entry into a Material Definitive Agreement Business

The company signed a significant contract such as a merger agreement, credit facility, or major partnership.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement Financial

The company incurred a new significant debt or off-balance-sheet obligation.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

Key Figures

Revolving Loan uncommitted borrowing capacity (after amendment): $150 million Revolving Loan uncommitted borrowing capacity (before amendment): $100 million Agreement amendment date: August 26, 2026 +1 more

4 metrics

Revolving Loan uncommitted borrowing capacity (after amendment) $150 million Principal uncommitted borrowing capacity under the Loan after the First Amendment

Revolving Loan uncommitted borrowing capacity (before amendment) $100 million Principal uncommitted borrowing capacity under the existing Loan prior to the First Amendment

Agreement amendment date August 26, 2026 Date of the First Amendment to Second Amended and Restated Revolving Loan Agreement

Second Amended and Restated Revolving Loan Agreement date July 29, 2026 Original date of the Second Amended and Restated Revolving Loan Agreement referenced by the amendment

Key Terms

Revolving Loan Agreement, uncommitted borrowing capacity, financial covenant, events of default, +1 more

5 terms

Revolving Loan Agreement financial

"entered into the First Amendment to Second Amended and Restated Revolving Loan Agreement"

uncommitted borrowing capacity financial

"increase the principal uncommitted borrowing capacity from $100 million to $150 million"

financial covenant financial

"including, among other things, a customary financial covenant that restricts OP SPE’s ability"

A financial covenant is a clause in a loan or credit agreement that requires a borrower to keep specific financial measures—such as cash levels, profit, or debt ratios—within agreed limits. Investors watch these rules because breaking them can let lenders demand immediate repayment, impose penalties, or restrict a company’s ability to pay dividends or take on new projects; think of it as house rules that, if violated, can force sudden, costly changes.

events of default financial

"contains customary events of default that would result in the termination of the Loan"

Events of default are specific breaches or failures listed in a loan, bond, or credit agreement that give lenders the right to act, such as demanding immediate repayment, raising interest rates, or taking secured assets. They matter to investors because triggering one is like setting off a financial alarm: it raises the chance of foreclosure, restructuring, or bankruptcy and can sharply reduce the value of a company’s stock or bonds and increase borrowing costs.

accelerate payment financial

"permit the Lender to accelerate payment on outstanding borrowings"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What financing change did Offerpad Solutions Inc. (OPAD) report on August 26, 2026?

Offerpad Solutions Inc. reported that subsidiary OP SPE SUMMIT, LLC entered into a First Amendment to its Second Amended and Restated Revolving Loan Agreement, increasing the revolving Loan’s principal uncommitted borrowing capacity from $100 million to $150 million with WHGG II TRUST and ASCENT DEVELOPER SOLUTIONS LLC.

By how much did OPAD’s revolving loan borrowing capacity increase?

The amendment increases OP SPE’s principal uncommitted borrowing capacity under the revolving Loan from $100 million to $150 million, an increase of $50 million in available uncommitted borrowing capacity.

Who are the parties to the amended revolving loan for OPAD’s subsidiary?

The amended revolving Loan is among OP SPE SUMMIT, LLC as borrower, and WHGG II TRUST and ASCENT DEVELOPER SOLUTIONS LLC as Lender, with OP SPE being a wholly owned subsidiary of Offerpad Solutions Inc..

What covenants are included in the amended OPAD revolving loan?

The amended Second Amended and Restated Revolving Loan Agreement includes customary representations, warranties and covenants, including a customary financial covenant that restricts OP SPE’s ability to incur indebtedness.

What events of default apply to OPAD’s amended revolving loan?

The amended agreement includes customary events of default that would result in termination of the Loan and allow the Lender to accelerate payment on outstanding borrowings if such default events occur.

Where can investors see the full terms of OPAD’s loan amendment?

The First Amendment to the Second Amended and Restated Revolving Loan Agreement is filed as Exhibit 10.1 to the report and is incorporated by reference for the complete terms.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 08/31/2026 - 04:22 PM EDT Accepted by SEC EDGAR 08/31/2026 - 04:21 PM EDT Learn about SEC filing dates

false 0001825024 0001825024 2026-08-26 2026-08-26

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 26, 2026

Offerpad Solutions Inc.

(Exact name of Registrant as Specified in Its Charter)

Delaware		001-39641		85-2800538
(State or Other Jurisdiction of Incorporation)		(Commission File Number)		(IRS Employer Identification No.)

433 S. Farmer Avenue
Suite 500
Tempe, Arizona				85281
(Address of Principal Executive Offices)				(Zip Code)

Registrant’s Telephone Number, Including Area Code: (844) 388-4539

N/A

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Class A common stock, $0.0001 par value per share		OPAD		The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 1.01. Entry into a Material Definitive Agreement.

On August 26, 2026, OP SPE SUMMIT, LLC, as borrower (“OP SPE”), a wholly owned subsidiary of Offerpad Solutions Inc. (the “Company”), WHGG II TRUST (“WHGG”), and ASCENT DEVELOPER SOLUTIONS LLC (“Ascent,” and, collectively with WHGG, the “Lender”), entered into the First Amendment to Second Amended and Restated Revolving Loan Agreement (the “New Amendment”), which amends that certain Second Amended and Restated Revolving Loan Agreement (the “Second Amendment”), dated as of July 29, 2026, by and among OP SPE and the Lender.

The New Amendment, among other things, modifies the terms of the existing revolving loan to increase the principal uncommitted borrowing capacity from $100 million to $150 million (the “Loan”).

The Second Amendment, as amended by the New Amendment, contains customary representations and warranties, and covenants, including, among other things, a customary financial covenant that restricts OP SPE’s ability to incur indebtedness, and contains customary events of default that would result in the termination of the Loan and permit the Lender to accelerate payment on outstanding borrowings.

The foregoing does not purport to be a complete description of the terms of the New Amendment and such description is qualified in its entirety by reference to the New Amendment, a copy of which is filed as Exhibit 10.1 hereto and is incorporated herein by reference.

Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The information included in Item 1.01 of this Current Report on Form 8-K is incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

(d) The following exhibits are filed as part of this Current Report on Form 8-K:

Exhibit No.		Description
10.1		First Amendment to Second Amended and Restated Revolving Loan Agreement, dated as of August 26, 2026, by and among OP SPE SUMMIT, LLC, WHGG II TRUST, and ASCENT DEVELOPER SOLUTIONS LLC
104		Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

						Offerpad Solutions Inc.
Date: August 31, 2026				By:		/s/ Peter Knag
						Peter Knag Chief Financial Officer

Filing Exhibits & Attachments

4 documents

Agreements & Contracts

• EX-10.1 EX-10.1 25.6 KB

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA 3.1 KB
• EX-101 XBRL TAXONOMY EXTENSION LABEL LINKBASE 17.6 KB
• EX-101 XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE 11.0 KB