- Offerpad Solutions (OPAD, Financial) received a notice from NYSE for non-compliance with listing standards.
- The company must submit a compliance plan within 45 days to avoid delisting risks.
- Offerpad has an 18-month period to rectify the deficiencies while continuing to trade on the NYSE.
Offerpad Solutions Inc. (OPAD) has been notified by the New York Stock Exchange (NYSE) on April 10, 2025, regarding its non-compliance with Section 802.01B of the NYSE Listed Company Manual. This notice is due to the company's failure to maintain both an average global market capitalization and stockholders' equity above the $50 million threshold over a 30-day trading period.
In response, Offerpad is preparing to submit a business plan within 45 days aimed at regaining compliance. The plan will outline strategies to address the deficiencies and achieve compliance within the NYSE's 18-month cure period. During this time, OPAD's Class A common stock will continue to trade on the NYSE, contingent on meeting other listing requirements and undergoing periodic reviews.
The situation presents significant uncertainty, as non-compliance with dual criteria like market capitalization and stockholders' equity suggests underlying structural challenges. The notice initiates a structured remediation process, creating pressure for Offerpad to outline clear corrective measures, which might include equity raises or asset sales.
If the NYSE accepts Offerpad's compliance plan, the company will retain its listing status during the remedy period. However, failure to submit an acceptable plan or meet compliance requirements during the cure period could lead to delisting proceedings.
