Aurora Acquisition extends merger deadline to Sep 30, 2023; 92.6% of shares redeemed, trust drops to $20.9M

Within 15 days of the extraordinary general meeting in lieu of the 2022 annual general meeting (the “Extraordinary General Meeting”) of Aurora, which was held on February 24, 2023, Aurora will file with the Registrar of Companies of the Cayman Islands an amendment (the “Extension Amendment”) to its Amended and Restated Memorandum and Articles of Association to extend the date by which Aurora must consummate a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses from March 8, 2023 to September 30, 2023, or such earlier date as shall be determined by Aurora’s board of directors and publicly announced by Aurora.

On May 10, 2021 Aurora Acquisition Corp., a Cayman Islands exempted company (“Aurora”) entered into an Agreement and Plan of Merger (the “Merger Agreement”), by and among Aurora, Aurora Merger Sub I, Inc., a Delaware corporation and a direct wholly owned subsidiary of Aurora (“Merger Sub”), and Better HoldCo, Inc., a Delaware corporation (“Better”), relating to, among other things, (i) each of the mergers of (x) Merger Sub, with and into Better, with Better surviving the merger as a wholly owned subsidiary of Aurora (the “First Merger”), and (y) Better with and into Aurora, with Aurora surviving the merger (together with the First Merger, the “Mergers” or “Business Combination”), and (ii) as a condition to the effectiveness of the Mergers, the proposal of Aurora to change its jurisdiction of incorporation by deregistering as an exempted company in the Cayman Islands and domesticating as a Delaware corporation pursuant to Section 388 of the General Corporation Law of the State of Delawa

On February 24, 2023, Aurora, Merger Sub and Better entered into Amendment No. 5 (“Amendment No. 5”) to the Merger Agreement, pursuant to which the parties agreed to extend the Agreement End Date (as defined in the Merger Agreement) from March 8, 2023 to September 30, 2023.

On October 27, 2021, Aurora entered into Amendment No. 1 (“Amendment No. 1”) to the Merger Agreement, by and among Aurora, Merger Sub and Better.

On November 30, 2021, Aurora entered into Amendment No. 3 (“Amendment No. 3”) to the Merger Agreement, by and among, Aurora, Merger Sub and Better.

On November 9, 2021, Aurora entered into Amendment No. 2 (“Amendment No. 2”) to the Merger Agreement, by and among, Aurora, Merger Sub and Better.

At the Extraordinary General Meeting, Aurora’s shareholders approved a proposal, by special resolution under Cayman Islands law, to adopt the Extension Amendment (the “Extension Proposal”).