Membership in the $3 million Supernova SPAC settlement comes down to one moment: 5:00 p.m. EDT on August 27, 2021. That was the redemption deadline before Supernova Partners Acquisition Company merged with Offerpad. Holders of Supernova Class A stock who did not redeem every share by then are in the class. Those who cashed out every share are not.
Status: Claims open | Claim deadline January 4, 2027 (per the settlement website) | Objections must be received by November 17, 2026 | Settlement hearing December 2, 2026
The Redemption Choice Behind the Case
A special purpose acquisition company raises money first and finds a business to merge with later. Before the merger closes, its stockholders can usually redeem — hand back their shares for cash — or stay in and become owners of the combined company. Supernova Partners Acquisition Company, Inc. was the SPAC that took Offerpad public in 2021.
The case, In re Supernova Partners Acquisition Co. SPAC Litigation, C.A. No. 2024-0887-PAF, in the Court of Chancery of the State of Delaware, challenges that merger. According to Offerpad’s SEC filings, the complaint filed in August 2024 alleges that the Supernova defendants breached their fiduciary duties in connection with the merger and that Offerpad-side defendants aided and abetted those breaches. The court dismissed the Offerpad-side defendants without prejudice in February 2025. No court has ruled on the merits.
The settling defendants named in the court-ordered summary notice are Supernova’s sponsor, Supernova Partners, LLC, and ten individual defendants, two of whom the notice describes as former defendants. Offerpad Solutions Inc. is not among them, and the summary notice does not say how the $3 million is funded.
Who Is in the Class
The class is every person who held Supernova Class A common stock, of record or beneficially, as of 5:00 p.m. EDT on August 27, 2021, and who did not redeem all of their shares. Successors in interest who received shares by operation of law are included. Certain Excluded Persons, defined in the Stipulation and the full Notice, are not.
- Redeemed everything: outside the class.
- Redeemed part of a position: can still be a class member.
- Redeemed nothing: in the class.
The class was certified for settlement purposes under Delaware Court of Chancery Rules 23(a), 23(b)(1) and 23(b)(2), and the summary notice describes no procedure for opting out.
What the Payment Could Be
The fund is $3,000,000 in cash. Payments come from the net settlement fund — what is left after any fee and expense award, administration costs and other court-approved deductions — and are divided under a proposed Plan of Allocation in the full Notice, which the court will review at the hearing.
The summary notice gives no per-share estimate. Each payment depends on the shares claimed and the number of valid claims. Plaintiff’s counsel will request a fee and expense award from the fund, but the summary notice does not state the amount. A service award of up to $3,000 for the plaintiff, if granted, would be paid only out of that fee and expense award.
A Long Trading History to Document
This claim covers years of activity, not one date. The online form, which does not ask for a notice ID or claim code, asks for:
- your contact information,
- the Supernova Class A shares you held at the close of the market on August 27, 2021,
- every purchase and sale of Supernova Class A or Offerpad common stock from then through August 26, 2024, with the exact date of each, and
- any Offerpad shares you still held at the close of the market on August 26, 2024.
The settlement website says claimants must submit genuine and sufficient documentation for every transaction and holding listed. It also warns that an online claim cannot be saved and finished later, and that claims may be audited. Pull your brokerage statements first, then sit down to file in one session. A paper Claim Form is available on the website’s documents page for anyone who would rather mail it.
Which Deadline Applies
The court-ordered summary notice published on September 7, 2026 printed the claim deadline as “January 2, 2026” — a date that had already passed. The official settlement website lists January 4, 2027, and that is the date that applies. The website does not give a time of day or time zone.
| November 17, 2026 | Objections to the settlement, the Plan of Allocation or the fee request must be received, filed with the Register in Chancery and delivered to plaintiff’s and defendants’ counsel |
| December 2, 2026, 3:15 p.m. | Settlement hearing before Vice Chancellor Paul A. Fioravanti, Jr. |
| January 4, 2027 | Claim Form deadline |
How We Got Here
Plaintiffs filed the Stipulation and Agreement of Settlement on July 15, 2026. On July 27, 2026 the court entered a Scheduling Order directing notice to the class and setting the hearing, and plaintiff’s counsel published the summary notice on September 7, 2026, which opened the claim process.
At the December 2 hearing, held in person at the Court of Chancery in Wilmington or remotely by telephone or videoconference at the court’s discretion, the court will decide whether to finally certify the class, approve the settlement and the Plan of Allocation, enter final judgment and set any fee award. Payments can go out only after approval and the completion of claim review. No payment date had been announced as of October 29, 2026.
Class members who do not file a timely Claim Form receive nothing from the net fund but can still be bound by the settlement’s releases if it is approved.
How to File
Claims are handled through the official settlement website, SupernovaDeSPACStockholderSettlement.com, run by Epiq as settlement administrator. The site posts the full Notice, the Stipulation, the Claim Form and the operative complaint, along with any change to the hearing date or format. Eligibility questions go to the administrator through the contact options on that site. The case is also summarized on the Supernova settlement page at OpenClassActions.com.
Frequently Asked Questions
Do Supernova shareholders who redeemed their shares qualify?
Not if they redeemed every share. The class covers holders of Supernova Class A common stock as of 5:00 p.m. EDT on August 27, 2021 who did not redeem all of their shares. A holder who redeemed only part of a position can still be a class member.
Is the Supernova SPAC settlement claim deadline January 2, 2026 or January 4, 2027?
January 4, 2027. The summary notice published September 7, 2026 printed January 2, 2026, a date that had already passed. The official settlement website lists January 4, 2027, and that date applies.
Is Offerpad paying the $3 million?
Offerpad Solutions Inc. is not among the defendants listed in the summary notice. The settling defendants are Supernova’s sponsor, Supernova Partners, LLC, and ten individual defendants. The summary notice does not say how the $3 million is funded.
Can I opt out of the Supernova settlement?
The summary notice describes a class under Delaware Court of Chancery Rules 23(b)(1) and 23(b)(2) and does not describe any opt-out procedure. Class members can object, with objections received by November 17, 2026.
What happens if I do not file a claim?
Class members who do not submit a timely Claim Form receive no part of the net settlement fund but may still be bound by the outcome, including the releases, if the court approves the settlement.
Sources
- Official settlement website, administered by Epiq.
- Court-ordered Summary Notice of Pendency and Proposed Settlement, In re Supernova Partners Acquisition Co. SPAC Litigation, C.A. No. 2024-0887-PAF (Del. Ch.), published September 7, 2026.
- Offerpad Solutions Inc. Form 10-Q for the quarter ended June 30, 2026 (legal proceedings).
- Offerpad Solutions Inc. Form 10-K for 2025 (legal proceedings).
- OpenClassActions.com — Supernova (Offerpad) Stockholder Settlement.
Source and credit: the settlement terms, deadlines and benefit details described above are drawn from our sister site’s reporting — OpenClassActions.com: $3M Supernova (Offerpad) Stockholder Settlement — which tracks this case against the court-approved notice and the official settlement website and is updated as the court rules.
Legal Disclaimer
This article is for informational purposes only and is not legal advice. OpenClassActions.org is a consumer news site, not a law firm and not the settlement administrator, and is not affiliated with any party to the case described. The allegations are allegations; unless a court has ruled, the defendants deny wrongdoing and no court has decided the merits. Deadlines, benefit amounts and payment timing can change as the court and the administrator act, so confirm current status on the official settlement website. You never need to pay anyone to file a claim or to receive a settlement payment.