Better Home & Finance Holding Company Announces the Completion of its Previously Announced 1-for-50 Reverse Stock Split
20 8월 2024 - 5:30AM
Business Wire
Better Home & Finance Holding Company (NASDAQ: BETR; BETRW)
(“Better” or the “Company”), a New York-based digitally native
homeownership company, today announced that on Friday, August 16,
2024, it filed a Certificate of Amendment to its Amended and
Restated Certificate of Incorporation (the “Certificate of
Amendment”), with the Secretary of State of the State of Delaware,
effecting its previously-announced 1-for-50 reverse stock split of
the Company’s common stock for the primary purpose of increasing
the per share trading price of the Company’s Class A common stock
to enable the Company to regain compliance with the minimum bid
price requirement for continued listing on The Nasdaq Capital
Market (the “Nasdaq”). The Company’s Class A common stock began
trading on a split-adjusted basis on the Nasdaq upon the market
open on Monday, August 19, 2024, under the existing ticker symbol
“BETR” with a new CUSIP number, which is 08774B508. The Company’s
public warrants continue to trade on Nasdaq under the ticker symbol
“BETRW” with the same CUSIP number.
Effective August 16, 2024, as a result of the reverse stock
split, every 50 shares of the Company’s issued and outstanding
common stock were converted into one issued and outstanding share
of Class A common stock, Class B common stock and Class C common
stock, as applicable, without any change to the par value per
share, the voting rights of the common stock, any stockholder’s
percentage interest in the Company’s equity (subject to the effects
of fractional shares) or any other aspect of the common stock. This
reduced the number of the Company’s outstanding Class A common
stock from 424,783,460 shares to 8,497,010 shares, outstanding
Class B common stock from 259,770,986 shares to 5,194,080 shares
and outstanding Class C common stock from 71,877,283 shares to
1,437,545 shares. No fractional shares were issued in connection
with the reverse stock split. Stockholders who would have otherwise
received a fractional share of the Company’s common stock following
the reverse stock split will receive a pro rata portion of cash
proceeds from the aggregation and sale of all fractional shares by
the exchange agent, Computershare Inc., together with its affiliate
Computershare Trust Company, N.A. (800-546-5141 (Within the United
States and Canada); 781-575-2765 (Outside the United States and
Canada)). Stockholders are not required to take any action to
exchange their shares.
For more detailed information relating to the reverse stock
split, please refer to the related Form 8-K filed with the U.S.
Securities and Exchange Commission on August 19, 2024, in
connection with the completion of the reverse stock split.
About Better
Since 2017, Better Home & Finance Holding Company (NASDAQ:
BETR; BETRW) has leveraged its industry-leading technology
platform, Tinman™, to fund more than $100 billion in mortgage
volume. Tinman™ allows customers to see their rate options in
seconds, get pre-approved in minutes, lock in rates and close their
loan in as little as three weeks. Better’s mortgage offerings
include GSE-conforming mortgage loans, FHA and VA loans, and jumbo
mortgage loans. Better launched its “One Day Mortgage” program in
January 2023, which allows eligible customers to go from click to
Commitment Letter within 24 hours. Better was named Best Online
Mortgage Lender by Forbes and Best Mortgage Lender for
Affordability by WSJ in 2023, ranked #1 on LinkedIn’s Top Startups
List for 2021 and 2020, #1 on Fortune’s Best Small and Medium
Workplaces in New York, #15 on CNBC’s Disruptor 50 2020 list, and
was listed on Forbes FinTech 50 for 2020. Better serves customers
in all 50 US states and the United Kingdom.
Forward-looking Statements
This press release contains certain forward-looking statements
within the meaning of federal securities laws. Forward-looking
statements are predictions, projections and other statements about
future events that are based on current expectations and
assumptions and, as a result, are subject to risks and
uncertainties. Many factors could cause actual future events to
differ materially from the forward-looking statements in this
communication. Such factors can be found in the Company’s annual
report on Form 10-K and the Company’s quarterly reports on Form
10-Q, which are available, free of charge, at the SEC’s website at
www.sec.gov. New risks and uncertainties arise from time to time,
and it is impossible for Better to predict these events or how they
may affect us. You are cautioned not to place undue reliance upon
any forward-looking statements, which speak only as of the date
made, and Better undertakes no obligation, except as required by
law, to update or revise the forward-looking statements, whether as
a result of new information, changes in expectations, future events
or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20240819250630/en/
For Investor Relations Inquiries please email ir@better.com
Better Home and Finance (NASDAQ:BETR)
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Better Home and Finance (NASDAQ:BETR)
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