---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-23-030418"
form_type: "8-K"
ticker: "BETR"
cik: "0001835856"
company_name: "Better Home & Finance Holding Co"
filed_at: "2023-08-23T23:59:59+00:00"
generated_at: "2026-06-11T04:58:05.688095+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# Better Home & Finance closes business combination with Aurora, starts trading under 'BETR'

## Summary
- Business combination closed on Aug 22, 2023; Better begins trading on Nasdaq under BETR and BETRW on Aug 24.
- Approximately $565M of fresh capital unlocked, including $528M convertible note from SoftBank (1% coupon, matures 2028) and equity from NaMa Capital.
- Better has surpassed $100B in funded loans; plans to continue developing Tinman platform.
- SoftBank's original $650M commitment reduced to $550M due to sponsor not funding; actual note issued $528M.
- Convertible notes have conversion price based on VWAP with floor $8 and cap $12 per share, redeemable at 115% of par under certain conditions.

## SEC filing metadata
- accession: 0001628280-23-030418
- form_type: 8-K
- ticker: BETR
- cik: 0001835856
- company_name: Better Home & Finance Holding Co
- filed_at: 2023-08-23T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 1.01, 2.03, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1835856/000162828023030418/0001628280-23-030418-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1835856/000162828023030418/betr-20230821.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-23-030418
- JSON: https://secwatch.observer/filing/0001628280-23-030418.json
- Plain text: https://secwatch.observer/filing/0001628280-23-030418.txt

## Key facts
- Debt Financings
  Better Home & Finance Holding Co incurred convertible notes of $528,585,444 with SoftBank at 1% per annum maturing August 15, 2028.
  - Instrument: convertible notes
  - Principal: $528,585,444
  - Counterparty: SoftBank
  - Rate: 1% per annum
  - Maturity: August 15, 2028
  - Event: incurrence
  source text: On August 22, 2023, the Company issued and sold to SoftBank senior subordinated convertible notes in the aggregate principal amount of $528,585,444 (the “Convertible Notes”) pursuant to an Indenture, dated as of August 22, 2023 (the “Indenture”), between the Company and GLAS Trust Company LLC, as trustee.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1835856/000162828023030418/0001628280-23-030418-index.htm
- Material Agreements
  Better Home & Finance Holding Co entered into Agreement and Plan of Merger with Better Holdco, Inc., Aurora Merger Sub I, Inc. (effective 2023-08-22).
  - Action: entry
  - Agreement: merger
  - Counterparty: Better Holdco, Inc., Aurora Merger Sub I, Inc.
  - Effective: 2023-08-22
  source text: consummated the previously announced business combination pursuant to the terms of the Agreement and Plan of Merger, dated as of May 10, 2021, as amended
  evidence_url: https://www.sec.gov/Archives/edgar/data/1835856/000162828023030418/0001628280-23-030418-index.htm
- Material Agreements
  Better Home & Finance Holding Co amended Amendment No. 2 to the Subscription Agreement with SB Northstar LP valued at $650,000,000 (effective 2023-08-21).
  - Action: amendment
  - Agreement: equity purchase
  - Counterparty: SB Northstar LP
  - Value: $650,000,000
  - Effective: 2023-08-21
  source text: On August 21, 2023, Aurora, Better and SB Northstar LP, a Cayman Islands exempted limited partnership (“SoftBank”) entered into an Amendment No. 2 to the Subscription Agreement, dated as of May 10, 2021, as amended by Amendment No. 1, dated as of November 30, 2021 (“Amendment No. 2”)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1835856/000162828023030418/0001628280-23-030418-index.htm
- Material Agreements
  Better Home & Finance Holding Co entered into Indenture with GLAS Trust Company LLC valued at aggregate principal amount of $528,585,444 (effective 2023-08-22).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: GLAS Trust Company LLC
  - Value: aggregate principal amount of $528,585,444
  - Effective: 2023-08-22
  source text: On August 22, 2023, the Company issued and sold to SoftBank senior subordinated convertible notes in the aggregate principal amount of $528,585,444 (the “Convertible Notes”) pursuant to an Indenture, dated as of August 22, 2023 (the “Indenture”), between the Company and GLAS Trust Company LLC, as trustee
  evidence_url: https://www.sec.gov/Archives/edgar/data/1835856/000162828023030418/0001628280-23-030418-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.