It’s official: is going public


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We didn’t think we’d see the day.

Digital mortgage lender’s proposal to combine with Aurora Acquisition Corp. via a SPAC (special purpose acquisition) has been approved by shareholders, the company confirmed today.

According to a Securities and Exchange Commission (SEC) filing, will combine with Aurora, or go public, “on or about August 22, 2023.”  

“At least 65% of the outstanding ordinary shares of the company entitled to vote at this meeting have voted in favor of (the) proposal,” Arnaud Massenet, CEO of Aurora Acquisition Corp, said in a shareholder’s meeting on Friday, as reported by HousingWire.

Upon the closing of the transaction, the combined entity will see an infusion of $750 million in new capital, according to Aurora’s filing with the Securities and Exchange Commission (SEC) in July and as reported by HousingWire. had originally began making plans to go public via a $6 billion SPAC in May 2021. Things took a dramatic turn for the worse later that year, and the SPAC was delayed.

With so many challenges facing over the past two years – including layoffs, high-profile executive resignations, a housing market slowdown and negative publicity – industry observers were skeptical that the company’s going-public plans would actually materialize.

TechCrunch reported last week that the long-awaited vote for to go public was scheduled for today ahead of the extended deadline to complete the merger deal on September 30.

In late July, Aurora had said in an SEC filing that shareholders would be asked to vote on a proposal that if the SPAC merger did take place, with Aurora surviving the merger, Aurora would change its name to “Better Home & Finance Holding Company.”

Last year, declared that it intended to move forward with its planned public debut, despite the lackluster performance of blank-check combinations in previous quarters. itself had seen its fair share of turbulence since it announced its plans to merge with a SPAC, including multiple botched layoffs (more on those here and here) and changing market conditions that impacted parts of its business, including a surge in mortgage interest rates. In one layoffs meeting, CEO Vishal Garg famously was recorded saying the company had “probably pissed away $200 million.“

Last week, TechCrunch reported that the SEC had said it did not intend to recommend an enforcement action against The pronouncement came after an investigation on the part of the SEC to determine if violations of federal securities laws had occurred. Last July, the SEC began looking into whether had violated federal securities laws, requesting documents from both the company and SPAC partner Aurora Acquisition Corp. about their business activities. 

The embattled fintech startup laid off its real estate team on June 7, shifting from an in-house agent model to a partnership agent model. It also continues to bleed cash.

According to HousingWire, other Aurora filings from July show that had posted a net loss of $89.9 million in Q1 2023 and had slashed about 91% of its workforce over an approximately 18-month period. While seems to have narrowed its loss compared to a net loss of $327.7 million in the first quarter of 2022, it’s clearly still struggling.

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Lisa Holden
Lisa Holden
Lisa Holden is a news writer for LinkDaddy News. She writes health, sport, tech, and more. Some of her favorite topics include the latest trends in fitness and wellness, the best ways to use technology to improve your life, and the latest developments in medical research.

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