Brief: SoftBank-backed Better To Go Public Via Merger With Aurora Acquisition Corp

Better Home & Finance Holding

11/05/2021 13:24

May 11 (Reuters) - Aurora Acquisition Corp  AURC.O :
    * DIGITAL HOMEOWNERSHIP PLATFORM BETTER TO BECOME A
PUBLICLY-LISTED COMPANY VIA MERGER WITH AURORA ACQUISITION
CORP.; COMPANY IS REDEFINING THE HOMEOWNERSHIP EXPERIENCE
    * AURORA ACQUISITION CORP - TRANSACTION VALUES BETTER AT
APPROXIMATELY $6.9 BILLION PRE-MONEY EQUITY VALUE
    * AURORA ACQUISITION CORP - ANTICIPATED THAT TRANSACTION
WILL
PROVIDE BETTER WITH $778 MILLION OF PRIMARY PROCEEDS
    * AURORA ACQUISITION CORP - VISHAL GARG AND EXISTING BETTER
MANAGEMENT TO CONTINUE LEADING BETTER
    * AURORA ACQUISITION - SOFTBANK COMMITS TO INVEST $1.5
BILLION VIA
PIPE INVESTMENT, OF WHICH $200 MILLION WILL BE SUBSCRIBED BY
AURORA'S SPONSOR, NOVATOR CAPITAL
    * AURORA ACQUISITION CORP - OF TOTAL CONSIDERATION TO
EXISTING
STOCKHOLDERS OF BETTER, $950 MILLION WILL BE PAID IN CASH,
REMAINDER IN STOCK OF NEW BETTER
    * AURORA ACQUISITION CORP - TRANSACTION REFLECTS AN IMPLIED
POST-MONEY EQUITY VALUE FOR BETTER OF APPROXIMATELY $7.7 BILLION

Source text for Eikon:  ID:nBw6jHf6Ca 
Further company coverage:  AURC.O 

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