SPAC Merger Greenlit: Aurora Acquisition Corp. Shareholders Back Better HoldCo Deal

Trading Debut Set for August 22 as Better Home & Finance Holding Company Launches

Aurora Acquisition Corp. has cleared a major milestone in its planned merger with Better HoldCo, Inc., with shareholders voting overwhelmingly in favor of the business combination at an extraordinary meeting on August 11, 2023. The green light from Aurora’s stakeholders—who collectively hold 97.7% of outstanding shares—sets the stage for a seamless closure anticipated around August 22, 2023.

Following the transaction close, the combined entity will debut as Better Home & Finance Holding Company on the Nasdaq exchange, trading under ticker symbols “BETR” for Class A common stock and “BETRW” for warrants. Better’s stockholders have already granted their consent, removing another key hurdle for the deal.

The Better Story: Digital Disruption in Real Estate Finance

Better arrives at the public markets with significant scale. The company has originated more than $100 billion in mortgage volume since its 2017 launch, powered by its proprietary Tinman™ platform. The technology stack compresses what traditionally took weeks into minutes—rate quotes in three seconds, pre-approval in three minutes, and loan closures in as little as three weeks.

The company’s one-day mortgage program, launched in January 2023, further accelerates the process by delivering underwriting decisions within 24 hours. Operating across all 50 US states and the United Kingdom, Better has diversified beyond mortgages into insurance and real estate services, completing approximately $98 billion in mortgage volume between 2019 and 2022, along with $4 billion in real estate transaction volume and $39 billion in insurance coverage written.

Aurora’s Investment Thesis

Aurora Acquisition Corp., led by Chairman Thor Björgólfsson, CEO Arnaud Massenet, and Chief Investment Officer Prabhu Narasimhan, operates under a “founders investing in founders” philosophy. Sponsored by Novator Capital Sponsor Limited, the SPAC has positioned itself as a long-term partner for high-growth enterprises with proven management teams.

Better’s accolades—including LinkedIn’s #1 Top Startup ranking (2020, 2021), Fortune’s Best Small and Medium Workplaces in New York, CNBC’s Disruptor 50 (2020), and Forbes FinTech 50 (2020)—underscore the company’s market prominence heading into its public debut.

Aurora will file Form 8-K with the Securities and Exchange Commission to disclose complete voting results. The forward-looking nature of this transaction carries inherent risks, with full details available in Aurora’s SEC filings and the definitive proxy statement relating to the business combination.