---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-25-020262"
form_type: "8-K"
ticker: "BETR"
cik: "0001835856"
company_name: "Better Home & Finance Holding Co"
filed_at: "2025-04-28T23:59:59+00:00"
generated_at: "2026-05-23T05:11:42.489088+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Better Home & Finance exchanges $533.9M of 1% convertible notes for $155M of 6% notes plus $110M cash

## Summary
- Exchanged $533.9M of 1% convertible notes held by SB Northstar for $155M of 6% senior secured notes due 2028 and $110M cash.
- New notes mature Dec 31, 2028, bear 6% interest payable semi-annually, with PIK toggle option.
- Existing notes indenture discharged; side letter between SB Northstar and CEO Vishal Garg terminated.
- New notes secured by substantially all assets of company and material domestic subsidiaries.
- No cash proceeds to company; debt principal reduced by $378.9M.

## SEC filing metadata
- accession: 0001628280-25-020262
- form_type: 8-K
- ticker: BETR
- cik: 0001835856
- company_name: Better Home & Finance Holding Co
- filed_at: 2025-04-28T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 1.02, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1835856/000162828025020262/0001628280-25-020262-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1835856/000162828025020262/betr-20250428.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-25-020262
- JSON: https://secwatch.observer/filing/0001628280-25-020262.json
- Plain text: https://secwatch.observer/filing/0001628280-25-020262.txt

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