Taylor Morrison Home Corp.

NYSE:TMHC  
29.61
+0.43 (+1.47%)
Exchange Changes, Mergers / Acquisitions, Equity Financing / Related

Offerpad, A Leading Tech-Enabled Real Estate Solutions Platform, Announces Plans To Become Publicly Traded Via Merger With Supernova Partners Acquisition Company

Published: 03/18/2021 13:19 GMT
Taylor Morrison Home Corp. (TMHC) - Offerpad, a Leading Tech-enabled Real Estate Solutions Platform, Announces Plans to Become Publicly Traded Via Merger With Supernova Partners Acquisition Company.
Offerpad - Transaction Values Offerpad at a Post-transaction Equity Value of Approximately $3.0 Billion.
Offerpad - Transaction Expected to Provide Up to $650 Million in Gross Cash Proceeds, Including a Fully Committed Pipe of $200 Million.
Offerpad - Pipe Investors Include Funds & Accounts Managed by Blackrock and Zimmer Partners, As Well As National Homebuilder Taylor Morrison Home Corp.
Offerpad - When Deal Closes, Publicly Traded Company Will Be Named Offerpad Solutions Inc.offerpad - When Deal Closes, Publicly Traded Co's Class A Common Stock is Expected to Be Listed on New York Stock Exchange Under Ticker "opad.
".
Offerpad - Existing Offerpad Shareholders Will Roll 100% of Equity Into Combined Co & Are Expected to Own About 75% of Combined Co at Closing.
Offerpad - Co's Founder & Ceo, Brian Bair, Will Receive High Vote Stock That is Expected to Represent About 35% of Voting Power of Combined Co.