Keep Factually independent
Whether you agree or disagree with our analysis, these conversations matter for democracy. We don't take money from political groups - even a $5 donation helps us keep it that way.
Have Opendoor warrants been listed on major exchanges or do they trade OTC?
Executive summary
Opendoor announced a dividend of tradable warrants to shareholders (one Series K, A and Z per 30 shares) and repeatedly states it intends to list those warrants on Nasdaq under OPENW, OPENL and OPENZ, subject to Nasdaq approval (company filings and FAQs) [1] [2] [3]. Earlier, Opendoor’s SPAC-era public warrants were moved to Nasdaq when the company listed, showing precedent for exchange-listed warrants [4] [5].
1. What the company says: Nasdaq listing is the plan
Opendoor’s investor materials and SEC filings make clear the company’s intent to list the new warrant series on The Nasdaq Stock Market—specifically aiming for tickers OPENW, OPENL and OPENZ—and the firm repeats that intention in the FAQ and press release announcing the distribution [2] [3] [1]. Opendoor also says a Form 8‑A registration statement and prospectus supplement describing the warrants will be filed with the SEC and that the final listing is “subject to Nasdaq approval,” language the company uses consistently [1] [2].
2. What precedent exists in Opendoor’s history
When Opendoor went public via a SPAC, the underlying redeemable warrants associated with Social Capital Hedosophia moved listings and Opendoor indicated it would apply for listing of its common stock and warrants on Nasdaq (or NYSE if requested), demonstrating the company has previously pursued exchange listings for warrants rather than leaving them OTC [4] [6] [5].
3. Third‑party market pages and coverage
Financial data sites and market reporters are already displaying listings and tickers for Opendoor warrants (for example a Nasdaq/Investing.com page shows OPENW on Nasdaq), reflecting market participants’ expectation that the warrants will trade on Nasdaq and that the symbols will be used [7]. Financial press and newsletters likewise describe the plan and the intended ticker symbols when discussing the distribution [8] [9].
4. What “subject to approval” and filings mean in practice
The company’s SEC disclosure repeats that listing will be applied for and is conditional on Nasdaq approval, and that more detail will be in the Form 8‑A and the prospectus supplement which Opendoor says it will file [2] [1]. That phrasing leaves a formal step remaining: the exchange must grant listing and the SEC registration/filing process must be completed before trading can commence under the proposed tickers [2] [1].
5. Are the warrants trading OTC instead?
Available sources do not report any current OTC trading for the newly announced Series K/A/Z warrants; instead, every company statement and the contemporaneous market coverage say the warrants are expected to list on Nasdaq [3] [2] [1] [9]. If investors see an OTC quote, current reporting does not mention it and investors should verify ticker and venue because premature or erroneous quotes can appear in low‑liquidity or delayed data feeds (noted absence in sources: see below).
6. Practical implications for shareholders and short sellers
Opendoor framed the distribution as immediate liquidity and choice: shareholders can monetize the warrant right away or hold for upside once listed on Nasdaq, and commentators noted the move changes short sellers’ exposure because the tradable warrants add option value to existing share positions [1] [10]. That analysis presumes the warrants will be tradable on an exchange rather than staying illiquid—consistent with the company’s stated listing intent [10] [9].
7. Limitations, open items and what to watch
Opendoor’s repeated “intend to list” and “subject to approval” language signals the remaining open items are Nasdaq’s approval and the filing/receipt of the Form 8‑A/prospectus supplement [2] [1]. Available sources do not include a Nasdaq rule approval notice or the completed SEC prospectus supplement in the materials provided here, so final confirmation of listing and an exact listing start date are not found in current reporting [2] [1].
8. How to verify for yourself
Watch for the Form 8‑A and prospectus supplement filings on the SEC site and a Nasdaq listing notice; Opendoor said it will file the warrant agreement and registration documents ahead of the distribution date [1] [2]. Market data pages already show the proposed tickers, but the authoritative confirmation is the SEC filings and Nasdaq’s listing approval [1] [2] [7].
Bottom line: every company filing and public FAQ in the available materials states the new Opendoor warrants are expected to be listed and trade on Nasdaq under OPENW/OPENL/OPENZ (subject to approval), and earlier SPAC-era precedent shows Opendoor (or its predecessor) has sought exchange listings for warrants before; formal confirmation depends on the pending SEC filings and Nasdaq approval that the company says it will pursue [2] [1] [3].