WASHINGTON, Aug. 12, 2021 /PRNewswire/ -- Supernova Partners
Acquisition Company, Inc. ("SPNV" or
"Supernova") (NYSE: SPNV), a special purpose
acquisition company, announced today that it has filed a definitive
proxy statement with the Securities and Exchange Commission
("SEC") and established August
2, 2021 as the record date (the "Record Date")
for its special meeting of stockholders (the "Special
Meeting") to be held to, among other things, approve the proposed
business combination (the "Business Combination")
between SPNV and OfferPad, Inc. ("Offerpad").
The Special Meeting will be held virtually via live webcast at
10:00 a.m. Eastern Time on
August 31, 2021, and can be accessed
by visiting https://www.cstproxy.com/supernovaspac/sm2021. The
proxy statement is available at www.sec.gov. Stockholders of record
as of the close of business on the Record Date will be entitled to
vote their shares at the Special Meeting.
The SPNV Board of Directors unanimously recommends that
stockholders vote "FOR" the Business Combination with
Offerpad as well as the other proposals set forth in the proxy
statement.
The proposed Business Combination is expected to be consummated
after receipt of the required approvals by the stockholders of SPNV
and the satisfaction or waiver of certain other conditions. Upon
closing, the combined company will remain listed on NYSE with its
Class A common stock and warrants trading under the new ticker
symbols, "OPAD" and "OPADWS",
respectively.
About Offerpad
Offerpad's mission is to provide the best way to
buy and sell a home. Period. It uses technology-enabled solutions
to remake the home selling and buying experience by offering
customers the convenience, control and certainty to solve their
housing needs. Offerpad combines its fundamental real estate
expertise with its data-driven digital "Solutions
Center" platform to give users a holistic, customer-centric
experience, enabling them to efficiently sell and buy their homes
online with streamlined access to other services including
mortgage, listing, and buyer representation services.
About Supernova Partners Acquisition Company
Supernova is led by Spencer Rascoff,
a serial entrepreneur who co-founded Hotwire, Zillow, dot.LA and
Pacaso and who led Zillow as CEO for nearly a decade; Alexander Klabin, founder and CEO of Ancient who
co-founded Senator Investment Group; Robert
Reid, an investor who worked for 21 years at Blackstone in
its Private Equity Group; and Michael
Clifton, an investor who was most recently a senior
investment professional at The Carlyle Group.
For more information, visit: https://spnv.supernovaspac.com/.
SPNV's securities are traded on the New York Stock
Exchange under the ticker symbol SPNV.
Contacts
Investors or security holders may contact Morrow Sodali LLC,
SPNV's proxy solicitor, for help, toll-free at (800) 662-5200, call
collect at (203) 658-9400 or via email at
SPNV.info@investor.morrowsodali.com.
For assistance with voting your shares, please contact Morrow
Sodali LLC.
For Media:
Laura Collins
480-220-0021
David Stephan
951-970-6336
Press@Offerpad.com
For Investors:
James Grout
602-706-4905
Investors@offerpad.com
Additional Information and Where to Find It
Supernova has filed a registration statement on Form S-4 with
the SEC, which includes a proxy statement/prospectus, that is both
the proxy statement that is being distributed to holders of
Supernova's common stock in connection with its
solicitation of proxies for the vote by Supernova's
stockholders with respect to the proposed business combination and
other matters as described in the registration statement, as well
as the prospectus relating to the offer and sale of the securities
to be issued in the business combination. Supernova will be mailing
the definitive proxy statement/prospectus and other relevant
documents to its stockholders. This press release does not contain
all the information that should be considered concerning the
proposed business combination and is not intended to form the basis
of any investment decision or any other decision in respect of the
business combination. Supernova's stockholders and
other interested persons are advised to read the definitive proxy
statement/prospectus and other documents filed in connection with
the proposed business combination, as these materials will contain
important information about Offerpad, Supernova and the business
combination. Stockholders are also able to obtain copies of the
definitive proxy statement and other documents filed with the SEC,
without charge, at the SEC's website
at www.sec.gov, or by directing a request to
Supernova's secretary at 4301 50th Street NW, Suite
300 PMB 1044, Washington, D.C.
20016, (202) 918-7050.
Participants in Solicitation
Supernova, Offerpad, and their respective directors and
executive officers may be deemed participants in the solicitation
of proxies from Supernova's stockholders with respect
to the proposed business combination. A list of the names of those
directors and executive officers and a description of their
interests is contained in Supernova's registration
statement on Form S-4, which is available free of charge at the
SEC's website at www.sec.gov. To the extent such
holdings of Supernova's securities by
Supernova's directors and executive officers may have
changed since that time, such changes have been or will be
reflected on Statements of Change in Ownership on Form 4 filed with
the SEC.
No Offer or Solicitation
This press release does not constitute (i) a solicitation of a
proxy, consent or authorization with respect to any securities or
in respect of the proposed business combination or (ii) an offer to
sell, a solicitation of an offer to buy, or a recommendation to
purchase any security of Supernova, Offerpad, or any of their
respective affiliates.
Forward-Looking Statements
Certain statements in this press release may be considered
forward-looking statements. Forward-looking statements generally
relate to future events and can be identified by terminology such
as "pro forma," "may," "should," "could," "might,"
"plan," "possible," "project," "strive," "budget," "forecast,"
"expect," "intend," "will," "estimate," "anticipate," "believe,"
"predict," "potential" or "continue," or the negatives
of these terms or variations of them or similar terminology. Such
forward-looking statements are subject to risks, uncertainties, and
other factors which could cause actual results to differ materially
from those expressed or implied by such forward looking statements.
These forward-looking statements are based upon estimates and
assumptions that, while considered reasonable by Supernova and its
management, and Offerpad and its management, are inherently
uncertain. Factors that may cause actual results to differ
materially from current expectations include, but are not limited
to: the outcome of any legal proceedings that may be instituted
against Supernova, Offerpad, the combined company or others
following the announcement of the business combination and any
definitive agreements with respect thereto; the inability to
complete the business combination due to the failure to obtain
approval of the stockholders of Supernova or to satisfy other
conditions to closing; changes to the proposed structure of the
business combination that may be required or appropriate as a
result of applicable laws or regulations or as a condition to
obtaining regulatory approval of the business combination; the
ability to meet stock exchange listing standards following the
consummation of the business combination; the risk that the
business combination disrupts current plans and operations of
Offerpad as a result of the announcement and consummation of the
business combination; the ability to recognize the anticipated
benefits of the business combination, which may be affected by,
among other things, competition, the ability of the combined
company to grow and manage growth profitably, maintain
relationships with customers and suppliers and retain its
management and key employees; costs related to the business
combination; changes in applicable laws or regulations; the ability
to respond to general economic conditions; the health of the U.S.
residential real estate industry; the ability to grow market share
in existing markets or any new markets; the impact of the COVID-19
pandemic; the ability to manage growth effectively; the ability to
accurately value and manage inventory, and to maintain an adequate
and desirable supply of inventory; the ability to successfully
launch new product and service offerings, and to manage, develop
and refine the technology platform; and other risks and
uncertainties set forth in the sections entitled "Risk
Factors" and "Cautionary Note Regarding
Forward-Looking Statements" in the registration statement on Form
S-4 and proxy statement/prospectus and other documents filed by
Supernova from time to time with the SEC. Nothing in this press
release should be regarded as a representation by any person that
the forward-looking statements set forth herein will be achieved or
that any of the contemplated results of such forward-looking
statements will be achieved. You should not place undue reliance on
forward-looking statements, which speak only as of the date they
are made. Neither Supernova nor Offerpad undertakes any duty to
update these forward-looking statements.
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SOURCE Supernova Partners Acquisition Company, Inc.