Startup mortgage lender Better to go public in SPAC merger - WSJ

Reuters2021-05-11

(Reuters) - Startup mortgage lender Better plans to go public by merging with a special-purpose acquisition company, the Wall Street Journal reported on Monday citing people familiar with the matter.

Better Holdco Inc plans to merge with Aurora Acquisition Corp, a SPAC sponsored by investment firm Novator Capital, at a valuation of roughly $7 billion pre-money in a deal that could be completed this week, the WSJ report said.

A SPAC is a company with no regular business operations but with a pool of capital raised through an IPO that it uses to take a private firm public.

Better had over $850 million in revenue in 2020 and more than $200 million in net profits, according to people familiar with the company’s finances, the report added.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

Leave a comment
3