Better Home & Finance Faces Nasdaq Delisting Warning
Ticker: BETRW · Form: 8-K · Filed: Mar 11, 2024 · CIK: 1835856
| Field | Detail |
|---|---|
| Company | Better Home & Finance Holding CO (BETRW) |
| Form Type | 8-K |
| Filed Date | Mar 11, 2024 |
| Risk Level | high |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.0001, $11.50 B, $11, $1.00 |
| Sentiment | bearish |
Sentiment: bearish
Topics: delisting, listing-standards, compliance
Related Tickers: BHMF
TL;DR
Nasdaq's kicking BHMF off the exchange, they're scrambling to fix it.
AI Summary
Better Home & Finance Holding Co. announced on March 7, 2024, that it received a notice from the Nasdaq Stock Market indicating a failure to meet continued listing requirements. The company is currently evaluating its options and plans to regain compliance.
Why It Matters
This filing signals potential delisting from Nasdaq, which could significantly impact the company's stock liquidity and investor confidence.
Risk Assessment
Risk Level: high — Receiving a delisting notice from a major stock exchange like Nasdaq poses a significant risk to the company's operations and stock value.
Key Players & Entities
- Better Home & Finance Holding Co. (company) — Registrant
- Nasdaq Stock Market (company) — Exchange issuing delisting notice
- March 7, 2024 (date) — Date of earliest event reported
FAQ
What specific continued listing rule did Better Home & Finance Holding Co. fail to meet?
The filing states the company received a notice from the Nasdaq Stock Market indicating a failure to meet continued listing requirements, but does not specify which rule was violated.
What is the date of the earliest event reported in this 8-K filing?
The date of the earliest event reported is March 7, 2024.
What actions is Better Home & Finance Holding Co. taking in response to the notice?
The company is currently evaluating its options and plans to regain compliance with Nasdaq's listing requirements.
What was Better Home & Finance Holding Co.'s former name?
The company was formerly known as Aurora Acquisition Corp. and Aurora Capital Holding Corp.
Where is Better Home & Finance Holding Co. headquartered?
The company is headquartered at 3 World Trade Center, 175 Greenwich Street, 57th Floor, New York, NY 10007.
Filing Stats: 952 words · 4 min read · ~3 pages · Grade level 14.1 · Accepted 2024-03-11 17:11:45
Key Financial Figures
- $0.0001 — stered Class A common stock, par value $0.0001 per share BETR The Nasdaq Stock Market
- $11.50 B — A common stock at an exercise price of $11.50 BETRW The Nasdaq Stock Market LLC Indic
- $11 — A Common Stock at an exercise price of $11.50, continue to trade on the Nasdaq Cap
- $1.00 — A Common Stock had closed at less than $1.00 per share over the previous 30 consecut
Filing Documents
- betr-20240307.htm (8-K) — 30KB
- 0001628280-24-010271.txt ( ) — 199KB
- betr-20240307.xsd (EX-101.SCH) — 2KB
- betr-20240307_def.xml (EX-101.DEF) — 16KB
- betr-20240307_lab.xml (EX-101.LAB) — 28KB
- betr-20240307_pre.xml (EX-101.PRE) — 17KB
- betr-20240307_htm.xml (XML) — 4KB
01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On March 7, 2024, Better Home & Finance Holding Company (the "Company") received approval from the Listing Qualifications Staff of The Nasdaq Stock Market LLC ("Nasdaq") to transfer the listing of its Class A common stock, par value $0.0001 per share (the "Class A Common Stock"), from the Nasdaq Global Market to the Nasdaq Capital Market (the "Approval"). The Class A Common Stock will be transferred to the Nasdaq Capital Market effective as of the opening of business on March 13, 2024 and will continue to trade under the symbol "BETR." The Nasdaq Capital Market operates in substantially the same manner as the Nasdaq Global Market, and listed companies must meet certain financial requirements and comply with Nasdaq's corporate governance requirements. The Company's warrants, which are exercisable for one share of Class A Common Stock at an exercise price of $11.50, continue to trade on the Nasdaq Capital Market under the symbol "BETRW." As previously disclosed, on October 12, 2023, the Company received a letter from Nasdaq notifying the Company that the bid price of its Class A Common Stock had closed at less than $1.00 per share over the previous 30 consecutive business days, and, as a result, it was no longer in compliance with Listing Rule 5450(a)(1) (the "Bid Price Rule"). Therefore, in accordance with Listing Rule 5810(c)(3)(A), the Company was provided 180 calendar days, or until April 9, 2024, to regain compliance with the Bid Price Rule. In response, the Company filed an application to transfer the listing of its Class A Common Stock from the Nasdaq Global Market to the Nasdaq Capital Market. As a result of the Approval, the Company is eligible to request an additional 180-day compliance period, or until October 6, 2024, to regain compliance with the Bid Price Rule. The Company applied for such additional 180-day compliance period on March 11, 202
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits (d) Exhibits: The following exhibit relating to Item 9.01 shall be deemed to be furnished, and not filed: 104 Cover Page Interactive Data File (formatted as Inline XBRL document) SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. BETTER HOME & FINANCE HOLDING COMPANY Date: March 11, 2024 By: /s/ Kevin Ryan Name: Kevin Ryan Title: President and Chief Financial Officer