What's Going On With Offerpad Stock Tuesday? - Offerpad Solutions (NYSE:OPAD)

Offerpad Solutions Inc. (NYSE:OPAD) stock tumbled Tuesday after the company outlined a stock sale agreement with institutional buyers.The company announced that it has entered into a securities purchase agreement with institutional investors for a registered direct offering of 10 million shares of common stock.The shares are priced at $1.80 each, implying gross proceeds of approximately $18 million before placement agent fees and other offering-related expenses.The company expects the offering to close on o ...