# EDGAR Filing Document

**Accession Number:** 0001825024
**File Stem:** 0001193125-23-022931
**Filing Date:** 2023-2
**Character Count:** 37369
**Document Hash:** b4180f3b1c8f8eef070c01256691a926
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-23-022931.hdr.sgml**: 20230203

**ACCESSION NUMBER**: 0001193125-23-022931

**CONFORMED SUBMISSION TYPE**: SC 13D/A

**PUBLIC DOCUMENT COUNT**: 3

**FILED AS OF DATE**: 20230203

**DATE AS OF CHANGE**: 20230202

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Offerpad Solutions Inc.
- **CENTRAL INDEX KEY:** 0001825024
- **STANDARD INDUSTRIAL CLASSIFICATION:** REAL ESTATE AGENTS & MANAGERS (FOR OTHERS) [6531]
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SC 13D/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-91784
- **FILM NUMBER:** 23582543

**BUSINESS ADDRESS:**
- **STREET 1:** 4520 DEXTER STREET, N.W.
- **CITY:** WASHINGTON
- **STATE:** DC
- **ZIP:** 20007
- **BUSINESS PHONE:** (202) 918-7070

**MAIL ADDRESS:**
- **STREET 1:** 4520 DEXTER STREET, N.W.
- **CITY:** WASHINGTON
- **STATE:** DC
- **ZIP:** 20007

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Supernova Partners Acquisition Company, Inc.
- **DATE OF NAME CHANGE:** 20200916
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Bair Brian
- **CENTRAL INDEX KEY:** 0001877794

**FILING VALUES:**
- **FORM TYPE:** SC 13D/A

**MAIL ADDRESS:**
- **STREET 1:** C/O OFFERPAD SOLUTIONS INC.
- **STREET 2:** 2150 E GERMAN ROAD, SUITE 1
- **CITY:** CHANDLER
- **STATE:** AZ
- **ZIP:** 85286

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**United States** 

**Securities and Exchange Commission** 

**Washington, D.C. 20549** 

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**SCHEDULE 13D** 

**(Rule 13d-101)** 

**Information to be Included in Statements Filed Pursuant to § 240.13d-1(a) and** 

**Amendments Thereto Filed Pursuant to § 240.13d-2(a)** 

**Under the Securities Exchange Act of 1934** 

**(Amendment No. 1)\*** 

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**Offerpad Solutions Inc.** 

**(Name of Issuer)** 

**Class A Common Stock** 

**(Title of Class of Securities)** 

**67623L109** 

**(CUSIP Number)** 

**Brian Bair** 

**c/o Offerpad Solutions Inc.** 

**2150 E. German Road, Suite 1** 

**Chandler, Arizona 85286** 

**(844) 388-4539** 

**(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)** 

**January 31, 2023** 

**(Date of Event Which Requires Filing of this Statement)** 

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If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. ☐

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*Note*: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. *See* § 240.13d-7 for other parties to whom copies are to be sent.

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\* The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the *Notes*).

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| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp;Names of Reporting Persons<br>&nbsp;&nbsp;&nbsp;&nbsp;Brian Bair |
| &nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp;Check the Appropriate Box if a Member of a Group<br> &nbsp;&nbsp;&nbsp;&nbsp;(a) ☐ (b) ☐ |
| &nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp;&nbsp;SEC Use Only |
| &nbsp;&nbsp;&nbsp; 4 | &nbsp;&nbsp;&nbsp;&nbsp;Source of Funds (See Instructions)<br>&nbsp;&nbsp;&nbsp;&nbsp;OO |
| &nbsp;&nbsp;&nbsp; 5 | &nbsp;&nbsp;&nbsp;&nbsp;Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>&nbsp;&nbsp;&nbsp;&nbsp;☐ |
| &nbsp;&nbsp;&nbsp; 6 | &nbsp;&nbsp;&nbsp;&nbsp;Citizenship or Place of Organization<br>&nbsp;&nbsp;&nbsp;&nbsp;United States |

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| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; NUMBER OF<br> SHARES<br> BENEFICIALLY <br> OWNED BY<br> EACH<br> REPORTING<br> PERSON<br> WITH | &nbsp;&nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp;&nbsp;&nbsp;Sole Voting Power<br>&nbsp;&nbsp;&nbsp;&nbsp;33,753,715 |
| &nbsp;&nbsp;&nbsp; NUMBER OF<br> SHARES<br> BENEFICIALLY <br> OWNED BY<br> EACH<br> REPORTING<br> PERSON<br> WITH | &nbsp;&nbsp;&nbsp;&nbsp;8 | &nbsp;&nbsp;&nbsp;&nbsp;Shared Voting Power<br>&nbsp;&nbsp;&nbsp;&nbsp;0 |
| &nbsp;&nbsp;&nbsp; NUMBER OF<br> SHARES<br> BENEFICIALLY <br> OWNED BY<br> EACH<br> REPORTING<br> PERSON<br> WITH | &nbsp;&nbsp;&nbsp;&nbsp;9 | &nbsp;&nbsp;&nbsp;&nbsp;Sole Dispositive Power<br>&nbsp;&nbsp;&nbsp;&nbsp;33,753,715 |
| &nbsp;&nbsp;&nbsp; NUMBER OF<br> SHARES<br> BENEFICIALLY <br> OWNED BY<br> EACH<br> REPORTING<br> PERSON<br> WITH | 10 | &nbsp;&nbsp;&nbsp;&nbsp;Shared Dispositive Power<br>&nbsp;&nbsp;&nbsp;&nbsp;0 |

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| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;11 | &nbsp;&nbsp;&nbsp;&nbsp;Aggregate Amount Beneficially Owned by Each Reporting Person<br>&nbsp;&nbsp;&nbsp;&nbsp;33,753,715 |
| &nbsp;&nbsp;&nbsp;12 | &nbsp;&nbsp;&nbsp;&nbsp;Check if the Aggregate Amount in Row (11) Excludes Certain Shares<br>&nbsp;&nbsp;&nbsp;&nbsp;☐ |
| &nbsp;&nbsp;&nbsp;13 | &nbsp;&nbsp;&nbsp;&nbsp;Percent of Class Represented by Amount in Row (11)<br>&nbsp;&nbsp;&nbsp;&nbsp;13.4% |
| &nbsp;&nbsp;&nbsp;14 | &nbsp;&nbsp;&nbsp;&nbsp;Type of Reporting Person<br>&nbsp;&nbsp;&nbsp;&nbsp;IN |

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**Explanatory Note** 

This Amendment No. 1 to Schedule 13D ("Amendment No. 1") amends and supplements the statement on Schedule 13D originally filed with the United States Securities and Exchange Commission (the "SEC") on September 13, 2021 (as amended, the "Schedule 13D"), related to the shares of Class A common stock, par value $0.0001 per share (the "Class A Common Stock"), of Offerpad Solutions Inc. (the "Issuer"). Capitalized terms used herein without definition shall have the meaning set forth in the Schedule 13D.

**Item 3.** **Source and Amount of Funds or Other Consideration.** <br>

Item 3 is of the Schedule 13D hereby amended and supplemented by adding the following:

Item 4 below summarizes certain provisions of the Subscription Agreement (as defined below) that pertain to the securities acquired by the Reporting Person. On January 31, 2023, pursuant to the Subscription Agreement (as defined below), the Reporting Person purchased 893,016 Warrants (as defined below) for cash consideration of approximately $500,000. The Warrants purchased by the Reporting Person were funded through personal funds.

The information disclosed in this Item 3 does not purport to be complete and is qualified in its entirety by reference to the Subscription Agreement (as defined below), a copy of which is attached hereto as Exhibit 3, and which is incorporated herein by reference in its entirety.

**Item 4.** **Purpose of Transaction.** <br>

Item 4 of the Schedule 13D is hereby amended and supplemented as follows:

*Subscription Agreement* 

On January 31, 2023 (the "Closing Date"), the Issuer entered into a pre-funded warrants subscription agreement (the "Subscription Agreement") with the Reporting Person and the other investors named therein. Pursuant to the Subscription Agreement, the Issuer agreed to issue and sell to the Reporting Person, and the Reporting Person agreed to purchase from the Issuer, 893,016 pre-funded warrants (the "Warrants") to purchase shares of Class A Common Stock. Each Warrant was sold at a price of $0.5599 per Warrant and has an initial exercise price of $0.0001 per Warrant, subject to certain customary anti-dilution adjustment provisions. The exercise price for the Warrants can be paid in cash or on a cashless basis, and the Warrants have no expiration date.

The issuance of the shares of Class A Common Stock upon exercise of the Warrants has been approved by the Issuer's stockholders holding stock representing more than a majority of the voting power of the Issuer's common stock, and the Issuer will prepare and file a related information statement with the SEC. The Warrants will not be exercisable until at least 21 days after the definitive information statement (the "Information Statement") is filed with the SEC or such later time as is necessary to comply with the listing requirements of the New York Stock Exchange (the "NYSE").

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The foregoing summary of the Subscription Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Subscription Agreement, a copy of which is filed as Exhibit 3 to this Amendment No. 3 and is incorporated by reference into this Item 4.

*Voting Agreement* 

In connection with the execution of the Subscription Agreement, on January 31, 2023, the Issuer, the Reporting Person and the other stockholders party thereto entered into a Voting Agreement (the "Voting Agreement"). Pursuant to the terms of the Voting Agreement, the Reporting Person, among other things, agreed (i) to vote in favor of the transactions contemplated by the Subscription Agreement, and (ii) not to transact in or transfer any shares of Class A Common Stock or Class B Common Stock beneficially owned by him for the period of time from the Closing Date until two trading days following the filing with the Securities and Exchange Commission of the Issuer's quarterly report on Form 10-Q for the three months ending March 31, 2023.

The foregoing summary of the Voting Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Voting Agreement, a copy of which is filed as Exhibit 4 to this Amendment No. 3 and is incorporated by reference into this Item 4.

*Letter* 

In connection with the execution of the Subscription Agreement, the Reporting Person notified by a letter, dated January 31, 2023, (the "Letter") the Board that he will convert all shares of Class B Common Stock beneficially owned by him to shares of Class A Common Stock immediately following the conclusion of the Issuer's 2023 annual meeting of stockholders.

The foregoing summary of the Letter does not purport to be complete and is qualified in its entirety by reference to the full text of the Voting Agreement, a copy of which is filed as Exhibit 5 to this Amendment No. 3 and is incorporated by reference into this Item 4.

The paragraphs under the caption "*General*" of Item 4 of the Schedule 13D are hereby amended and restated in their entirety as follows:

*General* 

The Reporting Person acquired the securities described in this Schedule 13D for investment purposes and intends to review its investments in the Issuer on a continuing basis. Any actions the Reporting Person might undertake may be made at any time and from time to time without prior notice and will be dependent upon the Reporting Person's review of numerous factors, including, but not limited to: an ongoing evaluation of the Issuer's business, financial condition, operations and prospects; price levels of the Issuer's securities; general market, industry and economic conditions; the relative attractiveness of alternative business and investment opportunities; and other future developments.

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Subject to the terms of the Offerpad Holders Support Agreement, the Voting Agreement and the Letter, the Reporting Person may acquire additional securities of the Issuer, or retain or sell all or a portion of the securities then held, in the open market or in privately negotiated transactions. In addition, the Reporting Person may engage in discussions with management, the Issuer's board of directors (the "Board"), and securityholders of the Issuer and other relevant parties or encourage, cause or seek to cause the Issuer or such persons to consider or explore extraordinary corporate transactions, such as: a merger, reorganization or other transaction that could result in the de-listing or de-registration of the Class A Common Stock; sales or acquisitions of assets or businesses; changes to the capitalization or distribution policy of the Issuer; or other material changes to the Issuer's business or corporate structure, including changes in management or the composition of the Board.

Other than as described above, the Reporting Person does not currently have any plans or proposals that relate to, or would result in, any of the matters listed in Items 4(a)–(j) of Schedule 13D, although, depending on the factors discussed herein, the Reporting Person may change his purpose or formulate different plans or proposals with respect thereto at any time.

**Item 5.** **Interest in Securities of the Issuer.** <br>

Item 5 of the Schedule 13D is hereby amended and restated in its entirety as follows:

(a) – (b)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Amount beneficially owned: 33,753,715

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Percent of Class: 13.4%

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Number of shares the Reporting Person has:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Sole power to vote or direct the vote: 33,753,715

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Shared power to vote: 0

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Sole power to dispose or direct the disposition of: 33,753,715

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Shared power to dispose or direct the disposition of: 0

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The above amount consists of (i) 12,510,004 shares of Class A Common Stock, (ii) 2,648,229 shares of Class A Common Stock held by the BAB 2021 Irrevocable Trust, (ii) 14,504,991 shares of Class B Common Stock, (iv) 311,245 shares of Class B Common Stock held by the BAB 2021 Irrevocable Trust, (v) 2,885,690 shares of Class A Common Stock that would be issuable upon exercise of options exercisable as of or within 60 days of February 2, 2023, and (vi) 893,016 shares of Class A Common Stock issuable upon the exercise of the Warrants held by The BBAB Living Trust, which will not be exercisable until at least 21 days after the Information Statement is filed with the SEC or such later time as is necessary to comply with the listing requirements of the NYSE, as described in Item 4 above.

The above percentage is based on 232,377,251 shares of Class A Common Stock outstanding as reported in the Issuer's Quarterly Report on Form 10-Q for the quarter ended September 30, 2022 filed with the SEC on November 2, 2022.

(c) Except as described in Item 4 of this Amendment No. 1, the Reporting Person has not effected any
transactions in Class A Common Stock during the past 60 days.

(d) None.

(e) Not applicable.

**Item 6.** **Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer.** <br>

Item 6 of the Schedule 13D is hereby amended and supplemented as follows:

Item 4 above summarizes certain provisions of the Subscription Agreement, the Voting Agreement and the Letter. Each of the Subscription Agreement, the Voting Agreement and the Letter is attached as an exhibit to this Amendment No. 1 and is incorporated herein by reference.

Except as set forth herein, the Reporting Person does not have any contracts, arrangements, understandings or relationships (legal or otherwise) with any person with respect to any securities of the Issuer, including but not limited to any contracts, arrangements, understandings or relationships concerning the transfer or voting of such securities, finder's fees, joint ventures, loan or option arrangements, puts or calls, guarantees of profits, division of profits or losses, or the giving or withholding of proxies.

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**Item 7.** **Materials to be Filed as Exhibits** <br>

Item 7 of the Schedule 13D is hereby amended and supplemented as follows:

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| | |
|:---|:---|
| **Exhibit<br>Number** | **Description** |
| 3 | [Pre-Funded Warrants Subscription Agreement, dated January 31, 2023, by and among the Issuer, Brian Bair and the other purchasers named therein (incorporated by reference to 10.1 to filed with the Issuer's Current Report on Form 8-K filed with the SEC on February 1, 2023)](http://www.sec.gov/Archives/edgar/data/1825024/000119312523021670/d450831dex101.htm) |
| 4 | Voting Agreement, dated January 31, 2023, by and among the Issuer, the Reporting Person and the other stockholders party thereto |
| 5 | Letter, dated January 31, 2023, from the Reporting Person to the Board of Directors of the Issuer |

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**SIGNATURE** 

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Date**: February 2, 2023

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| | |
|:---|:---|
| By: | /s/ Brian Bair |
| Name: Brian Bair | Name: Brian Bair |

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## Exhibit 99.4

**Exhibit 4** 

**VOTING AGREEMENT** 

This Voting Agreement (this "<u>Agreement</u>") is made and entered into as of January 31, 2023 by and among Offerpad Solutions Inc., a Delaware corporation (the "<u>Company</u>"), and the undersigned stockholders of the Company (the "<u>Stockholders</u>").

WHEREAS, concurrently with or following the execution of this Agreement, the Company, has entered, or will enter, into a Pre-Funded Warrants Subscription Agreement (the "<u>Subscription Agreement</u>"), providing for the sale and delivery of Pre-Funded Warrants, which shall be exercisable for shares of the Class A Common Stock (each as defined in the Subscription Agreement), to the Purchasers identified on the signature pages to the Subscription Agreement;

WHEREAS, as a condition to their willingness to enter into the Subscription Agreement, the Company and the Purchasers have required that the Stockholders execute and deliver this Agreement; and

WHEREAS, in order to induce the Company and the Purchasers to enter into the Subscription Agreement, each Stockholder is willing, on a several and not joint basis, to make certain representations, warranties, covenants and agreements with respect to the shares of Class A Common Stock and Class B Common Stock beneficially owned by such Stockholder and set forth below such Stockholder's signature on the signature pages hereto (the "<u>Original Shares</u>" and, together with any additional shares of Class A Common Stock and Class B Common Stock acquired by the Stockholder after the date of this Agreement, the "<u>Shares</u>").

NOW, THEREFORE, in consideration of the premises and for other good and valuable consideration, the receipt, sufficiency and adequacy of which are hereby acknowledged, the parties hereto agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. <u>Definitions.</u> For purposes of this Agreement, capitalized terms used and not defined herein shall have the respective meanings ascribed to them in the Subscription Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. <u>Representations of the Stockholders</u>. Each Stockholder, severally and not jointly, represents and warrants to the Company that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Such Stockholder owns beneficially (as such term is defined in Rule 13d-3 under the Exchange Act) all of the Original Shares free and clear of all liens, and (ii) except pursuant hereto, there are no options, warrants or other rights, agreements, arrangements or commitments of any character to which Stockholder is a party relating to the pledge, disposition or voting of any of the Original Shares and there are no voting trusts or voting agreements with respect to the Original Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Such Stockholder has full corporate power and authority to enter into, execute and deliver this Agreement and to perform fully such Stockholder's obligations hereunder. This Agreement has been duly and validly executed and delivered by such Stockholder and constitutes the legal, valid and binding obligation of such Stockholder, enforceable against such Stockholder in accordance with its terms.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) None of the execution and delivery of this Agreement by such Stockholder, the consummation by such Stockholder of the transactions contemplated hereby or compliance by such Stockholder with any of the provisions hereof will conflict with or result in a breach, or constitute a default (with or without notice of lapse of time or both) under any provision of, any trust agreement, loan or credit agreement, note, bond, mortgage, indenture, lease or other agreement, instrument, law or regulation applicable to such Stockholder or to such Stockholder's property or assets.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. <u>Agreement to Vote Shares.</u> Each Stockholder agrees, severally and not jointly, with the Company (it being understood that such agreement is solely between the Company and each Stockholder, and not among the Stockholders) during the term of this Agreement to execute the Stockholder Written Consent. If any matter covered by the Stockholder Approval are presented to the Company's stockholders for approval at any annual, special or adjourned meeting of the stockholders of the Company, each Stockholder agrees, severally and not jointly, with the Company (it being understood that such agreement is solely between the Company and each Stockholder, and not among the Stockholders) that it will vote, by proxy or otherwise, its Shares (i) in favor of such matter and any matter that would reasonably be expected to facilitate such Stockholder Approval, and (ii) against approval of any proposal made in opposition to such matters. In the event that a meeting of the stockholders of the Company is held, each Stockholder shall, or shall cause the holder of record on any applicable record date to, appear at such meeting or otherwise cause its Shares to be counted as present thereat for purposes of establishing a quorum.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. <u>Transfer and Encumbrance.</u> Each Stockholder agrees, severally and not jointly, with the Company (it being understood that such agreement is solely between the Company and each Stockholder, and not among the Stockholders) that until the earlier of (a) the termination of this Agreement pursuant to Section 5, (b) 11:59 p.m., eastern time, on the second trading day after the Company files its Form 10-Q for the period ending March 30, 2023 and (c) 11:59 p.m., eastern time, on May 12, 2023, such Stockholder will not, directly or indirectly, transfer, sell, offer, exchange, assign, pledge or otherwise dispose of or encumber ("<u>Transfer</u>") any of its Shares or enter into any contract, option or other agreement with respect to, or consent to, a Transfer of, any of its Shares or such Stockholder's voting or economic interest therein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. <u>Termination</u><u>.</u> This Agreement shall terminate when the Stockholder Approval has been received and become effective and binding on the Company so as to permit the exercise of the Pre-Funded Warrants.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. <u>No Agreement as Director or Officer</u>. Each Stockholder makes no agreement or understanding in this Agreement in such Stockholder's capacity as a director or officer of the Company or any of its subsidiaries (if such Stockholder holds such office), and nothing in this Agreement: (a) will limit or affect any actions or omissions taken by any Stockholder in its capacity as such a director or officer of the Company or any of its subsidiaries, and no such actions or omissions shall be deemed a breach of this Agreement or (b) will be construed to prohibit, limit or restrict any Stockholder from exercising such Stockholder's fiduciary duties as an officer or director to the Company or its stockholders.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. <u>Specific Performance.</u> Each party hereto acknowledges that it will be impossible to measure in money the damage to the other party if a party hereto fails to comply with any of the obligations imposed by this Agreement, that every such obligation is material and that, in the event of any such failure, the other party will not have an adequate remedy at law or damages. Accordingly, each Stockholder agrees with the Company (and only with the Company) that injunctive relief or other equitable remedy, in addition to remedies at law or damages, is the appropriate remedy for any such failure and will not oppose the seeking of such relief on the basis that the other party has an adequate remedy at law. Each party hereto agrees that it will not seek, and agrees to waive any requirement for, the securing or posting of a bond in connection with the other party's seeking or obtaining such equitable relief.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. <u>Entire Agreement.</u> This Agreement supersedes all prior agreements, written or oral, between the parties hereto with respect to the subject matter hereof and contains the entire agreement between the parties with respect to the subject matter hereof. This Agreement may not be amended or supplemented, and no provisions hereof may be modified or waived, except by an instrument in writing signed by all of the parties hereto. No waiver of any provisions hereof by any party shall be deemed a waiver of any other provisions hereof by such party, nor shall any such waiver be deemed a continuing waiver of any provision hereof by such party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. <u>Notices</u>. All notices, requests, consents and other communications hereunder shall be in writing, shall be sent by confirmed electronic mail, or mailed by first-class registered or certified airmail, or nationally recognized overnight express courier, postage prepaid, and shall be deemed given when so sent in the case of electronic mail transmission, or when so received in the case of mail or courier, and addressed as follows:

If to the Company, to:

Offerpad Solutions Inc.

2150 E. Germann Road.

Chandler, Arizona 85286

Attention: Chief Financial Officer; Chief Legal Officer

Email: mike.burnett@offerpad.com; benjamin.aronovitch@offerpad.com

with a copy to:

Latham & Watkins LLP

650 Town Center Drive, 20<sup>th</sup> Floor

Costa Mesa, CA 92626

Attention: Drew Capurro; Peter Sluka

Email: drew.capurro@lw.com; peter.sluka@lw.com

If to a Stockholder, to the address or email address set forth for such Stockholder on the signature pages hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. <u>Miscellaneous.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) This Agreement shall be governed by and construed in accordance with the internal laws of the State of Delaware without giving effect to any choice or conflict of law provision or rule (whether of the State of Delaware or any other jurisdiction) that would cause the application of laws of any jurisdiction other than those of the State of Delaware.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Each of the parties hereto irrevocably agrees that any suit, action or proceeding seeking to enforce any provision of, or based on any matter arising out of or in connection with, this Agreement or the transactions contemplated hereby shall be brought in the federal of states court sitting in Delaware, so long as one of such courts shall have subject matter jurisdiction over such suit, action or proceeding, and that any cause of action arising out of this Agreement shall be deemed to have arisen from a transaction of business in the State of Delaware, and each of the parties hereby irrevocably consents to the jurisdiction of such courts (and of the appropriate appellate courts therefrom) in any such suit, action or proceeding and irrevocably waives, to the fullest extent permitted by law, any objection that it may now or hereafter have to the laying of the venue of any such suit, action or proceeding in any such court or that any such suit, action or proceeding brought in any such court has been brought in an inconvenient forum. Process in any such suit, action or proceeding may be served on any party anywhere in the world, whether within or without the jurisdiction of any such court. Without limiting the foregoing, each party agrees that service of process on such party as provided in <u>Section</u> <u>9</u> shall be deemed effective service of process on such party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATED TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) If any term or provision of this Agreement is invalid, illegal or unenforceable in any jurisdiction, such invalidity, illegality or unenforceability shall not affect any other term or provision of this Agreement or invalidate or render unenforceable such term or provision in any other jurisdiction. Upon such determination that any term or other provision is invalid, illegal or unenforceable, the parties hereto shall negotiate in good faith to modify this Agreement so as to effect the original intent of the parties as closely as possible in a mutually acceptable manner in order that the transactions contemplated hereby be consummated as originally contemplated to the greatest extent possible.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) This Agreement may be executed in any number of counterparts, each of which shall be an original, and all of which together shall constitute one instrument. Counterparts may be delivered via facsimile, electronic mail (including any electronic signature covered by the U.S. federal ESIGN Act of 2000, Uniform Electronic Transactions Act, the Electronic Signatures and Records Act or other applicable law, e.g., www.docusign.com) or other transmission method and any counterpart so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Each party hereto shall execute and deliver such additional documents as may be necessary or desirable to effect the transactions contemplated by this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) All Section headings herein are for convenience of reference only and are not part of this Agreement, and no construction or reference shall be derived therefrom.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) The obligations of Stockholder set forth in this Agreement shall not be effective or binding upon Stockholder until after such time as the Subscription Agreement is executed and delivered by the Company and the Purchasers, and the parties agree that there is not and has not been any other agreement, arrangement or understanding between the parties hereto with respect to the matters set forth herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Neither party to this Agreement may assign any of its rights or obligations under this Agreement without the prior written consent of the other party hereto. Any assignment contrary to the provisions of this <u>Section</u> <u>12(i)</u> shall be null and void.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) Each of the Purchasers shall be deemed to be a third-party beneficiary of this Agreement with the right to seek to specifically enforce this Agreement.

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IN WITNESS WHEREOF, the parties hereto have executed and delivered this Agreement as of the date first written above.

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| | |
|:---|:---|
| **OFFERPAD SOLUTIONS INC.** | **OFFERPAD SOLUTIONS INC.** |
| By: | /s/ Michael Burnett |
| Name: Michael Burnett | Name: Michael Burnett |
| Title: Chief Financial Officer | Title: Chief Financial Officer |

---

------

---

| | |
|:---|:---|
| **STOCKHOLDERS:** | /s/ Brian Bair |
|  | Brian Bair |

---

Number of Shares of Company Class A Common Stock Beneficially Owned as of the Date of this Agreement: 12,510,004

Number of Shares of Company Class B Common Stock Beneficially Owned as of the Date of this Agreement: 14,504,991

---

| | |
|:---|:---|
| THE BBAB 2021 | THE BBAB 2021 |
| IRREVOCABLE TRUST | IRREVOCABLE TRUST |
| By: | /s/ Brian Bair |
|  | Name: Brian Bair |
|  | Title: Trustee |

---

Number of Shares of Company Class A Common Stock Beneficially Owned as of the Date of this Agreement: 2,648,229

Number of Shares of Company Class B Common Stock Beneficially Owned as of the Date of this Agreement: 311,245

Address:

C/O Offerpad Solutions Inc.

2150 E. Germann Road, Suite 1

Chandler, AZ 85286

Email: brian@offerpad.com

------

---

| | | |
|:---|:---|:---|
| **STOCKHOLDER:** | | |
|  | **LL Capital Partners I, L.P.** | **LL Capital Partners I, L.P.** |
|  | a Delaware limited partnership | a Delaware limited partnership |
|  | By: LLCP I GP, LLC, its General | By: LLCP I GP, LLC, its General |
|  | Partner | Partner |
|  | By: | /s/ Paul A. Frick |
|  |  | Name: Paul A. Frick |
|  |  | Title: Vice President |

---

Number of Shares of Company Class A Common Stock Beneficially Owned as of the Date of this Agreement: 92,685,278

Number of Shares of Company Class B Common Stock Beneficially Owned as of the Date of this Agreement: 0

---

| | | |
|:---|:---|:---|
| **SIFV, LLC** | **SIFV, LLC** | **SIFV, LLC** |
| By: LLCP U GP, LLC, its managing member | By: LLCP U GP, LLC, its managing member | By: LLCP U GP, LLC, its managing member |
| By: | /s/ Paul A. Frick | /s/ Paul A. Frick |
|  | Name: | Paul A. Frick |
|  | Title: | Vice President |

---

Number of Shares of Company Class A Common Stock Beneficially Owned as of the Date of this Agreement: 7,564,705

Number of Shares of Company Class B Common Stock Beneficially Owned as of the Date of this Agreement: 0

Address:

2400 Market Street, Suite 302, Philadelphia, P A 19103

Email: <u>Paul.Frick@LLFunds.com</u>

------

**STOCKHOLDER:** 

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| | | |
|:---|:---|:---|
| **First American Financial Corporation** | **First American Financial Corporation** | **First American Financial Corporation** |
| a Delaware corporation | a Delaware corporation | a Delaware corporation |
| By: | /s/ Mark E. Seaton | /s/ Mark E. Seaton |
|  | Name: | Mark E. Seaton |
|  | Title: | Executive Vice President and Chief Financial Officer |

---

Number of Shares of Company Class A Common Stock Beneficially Owned as of the Date of this Agreement: 76,789,713<sup>1</sup>

Number of Shares of Company Class B Common Stock Beneficially Owned as of the Date of this Agreement: 0

Address:

1 First American Way

Santa Ana, CA 92707

Facsimile: General Counsel (714) 250-3325

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<sup>1</sup> 32,138,883 shares owned plus 44,650,830 underlying shares of Class A common stock subject to the prefunded warrant.

## Exhibit 99.5

**Exhibit 5** 

Offerpad Solutions Inc.

c/o Board of Directors

2150 E. Germann Road

Chandler, AZ 85286

To the Board of Directors:

I write to inform you that I shall convert all shares of Class B common stock of Offerpad Solutions Inc. (the "Company") currently held by me and the BBAB 2021 Irrevocable Trust to Class A common stock of the Company immediately following the conclusion of the Company's 2023 annual meeting of stockholders (the "Annual Meeting").

Please note that I reserve the right to elect to convert such shares of Class B common stock at any time prior to the Annual Meeting in accordance with the Company's third restated certificate of incorporation, as may be amended from time to time.

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| | | |
|:---|:---|:---|
| Dated: January 31, 2023 | Very truly yours, | Very truly yours, |
|  | /s/ Brian Bair | /s/ Brian Bair |
|  | Brian Bair | Brian Bair |
|  | Chairman and Chief Executive Officer | Chairman and Chief Executive Officer |
|  | Offerpad Solutions Inc. | Offerpad Solutions Inc. |
|  | THE BBAB 2021 IRREVOCABLE TRUST | THE BBAB 2021 IRREVOCABLE TRUST |
|  | By: | /s/ Brian Bair |
|  |  | Name: Brian Bair |
|  |  | Title: Trustee |

---

cc: Benjamin Aronovitch

Chief Legal Officer

Offerpad Solutions Inc.