Aurora shares surge; upcoming Better.com deal vote slated for August

Better Home & Finance Holding

31/07/2023 16:18

** Shares in special purpose acquisition company (SPAC) Aurora
Acquisition Corp  AURC.O  up 19.3% on Monday with traders
appearing to bet a much delayed deal with SoftBank
 9434.T -backed online mortgage lender Better.com would be
approved in August
    ** AURC last traded at $52.55 after touching a high of
$58.59 earlier in the session
    ** Shares had hovered around the $10 IPO price since the
SPAC went public in March 2021, and then started picking up
steam on July 25 (223% surge on 8.6 mln shares of trading
volume, per Refinitiv), a day after Aurora filed with the SEC
about its efforts to merge with Better
    ** Aurora and Better first announced plans to merge in May
2021 with a target closing in Q4 of that year but the deal was
delayed
    ** Better.com CEO apologized in December 2021 after a video
of him firing 900 people on a Zoom call went viral
    ** By mid-July 2022, the SEC was examining whether
Better.com and Aurora had violated federal securities laws
    ** But a week ago, Aurora announced an August 11 date for a
meeting where shareholders can vote on the tie-up

 (Reporting By Sinéad Carew)
 ((sinead.carew@thomsonreuters.com; +13322191897;))