 "Home-selling platform Offerpad to go public in $3 billion SPAC deal")
Offerpad Inc said on Thursday it would go public through a merger with a blank-check company, in a deal that values the equity of the home-selling platform at $3 billion.
The deal with Zillow co-founder Spencer Rascoff-backed Supernova Partners Acquisition Company Inc will fetch $650 million in proceeds for Offerpad. This includes a private investment of $200 million from affiliates of Supernova, funds managed by BlackRock Inc, homebuilder Taylor Morrison Home Corp and others.
Offerpad, which expects revenue of $1.4 billion in 2021, said the company will be listed on the New York Stock Exchange under the ticker "OPAD", after
