Aurora Acquisition Corp. - AURCU STOCK NEWS

Better HoldCo is in the process of becoming a publicly-listed company via a merger with Aurora Acquisition Corp (AURC), submitting amendment No. 6 to its Form S-4 registration statement. This deal is projected to generate $750 million in new capital, aiding Better's mission to enhance the homeownership experience. Since its inception in 2016, Better has originated over $100B in mortgages and aims to innovate its offerings, especially in a challenging refinance market. Harit Talwar has been appointed Chairman of the Board.

Better HoldCo, Inc. has amended its merger agreement with Aurora Acquisition Corp. (AURC) to secure a $1.5 billion all-primary capital transaction, bolstering its balance sheet for growth in a shifting mortgage landscape. With immediate funding of $750 million, Better will exceed $1 billion in cash reserves. This deal maintains an implied equity value of $6.9 billion for Better. The collaboration with SoftBank and Aurora aims for a public listing pending SEC approvals, allowing Better to leverage its doubled market share during an industry transformation.

Better HoldCo has secured up to $1.5 billion in bridge financing and convertible notes in collaboration with Aurora Acquisition Corp. and SoftBank. This new agreement modifies earlier financing terms, allowing Better to enhance its cash reserves, now exceeding $1 billion. The merger with Aurora, expected to complete soon, maintains an equity valuation of about $6.9 billion. Better aims to leverage this capital to accelerate growth in a transforming mortgage industry.

Aurora Acquisition Corp. (Nasdaq: AURC) has successfully closed its IPO, raising $220 million by issuing 22 million units at $10.00 each. The offering commenced trading on Nasdaq under the symbol 'AURCU' on March 3, 2021. Additionally, two private placements generated $41.4 million, including 3.5 million units and 4.27 million warrants. Barclays Capital served as the sole book-runner for this offering. Aurora aims to leverage its management team's expertise to pursue strategic mergers and acquisitions primarily in the Technology and Media sectors across Europe, the Middle East, and Africa.

Aurora Acquisition Corp. priced its initial public offering of 22,000,000 units at $10.00 each, expected to list on Nasdaq under symbol 'AURCU' on March 3, 2021. Each unit comprises one Class A ordinary share and one-fourth of a redeemable warrant, with warrants priced at $11.50 each. The offering is anticipated to close on March 8, 2021. Additionally, a private placement with the sponsor, Novator Capital, yielded gross proceeds of $6,400,000 from 4,266,667 warrants, and $35 million from 3,500,000 units. The Company aims to target opportunities in the EMEA Technology and Media sectors.