Better Home & Finance Faces Delisting Concerns
Ticker: BETRW · Form: 8-K · Filed: Apr 10, 2024 · CIK: 1835856
| Field | Detail |
|---|---|
| Company | Better Home & Finance Holding CO (BETRW) |
| Form Type | 8-K |
| Filed Date | Apr 10, 2024 |
| Risk Level | high |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.0001, $11.50 B, $1.00 |
| Sentiment | bearish |
Sentiment: bearish
Topics: delisting, listing-standards, company-update
TL;DR
BHMF might get delisted, stock could be toast.
AI Summary
Better Home & Finance Holding Company filed an 8-K on April 10, 2024, to report a notice of delisting or failure to satisfy a continued listing rule. The company, formerly known as Aurora Acquisition Corp. and Aurora Capital Holding Corp., is based in New York and operates in the loan brokerage industry.
Why It Matters
This filing indicates potential issues with the company's continued listing on an exchange, which could impact its stock trading and investor confidence.
Risk Assessment
Risk Level: high — A notice of delisting or failure to meet listing standards is a significant negative event that can lead to severe consequences for the company and its shareholders.
Key Numbers
- 001-40143 — SEC File Number (Identifies the company's filings with the SEC.)
- 93-3029990 — IRS Employer Identification Number (Company's tax identification number.)
Key Players & Entities
- Better Home & Finance Holding Company (company) — Registrant
- Aurora Acquisition Corp. (company) — Former Company Name
- Aurora Capital Holding Corp. (company) — Former Company Name
- 3 World Trade Center (location) — Business Address
- 175 Greenwich Street, 57th Floor (location) — Business Address
- New York (location) — Business Address City
FAQ
What specific listing rule or standard has Better Home & Finance Holding Company failed to satisfy?
The filing does not specify the exact rule or standard that has not been met, only that a notice of delisting or failure to satisfy a continued listing rule or standard has been issued.
What is the date of the earliest event reported in this 8-K filing?
The date of the earliest event reported is April 9, 2024.
What were the previous names of Better Home & Finance Holding Company?
The company was formerly known as Aurora Acquisition Corp. and Aurora Capital Holding Corp.
What is the business address of Better Home & Finance Holding Company?
The business address is 3 World Trade Center, 175 Greenwich Street, 57th Floor, New York, NY 10007.
What is the Standard Industrial Classification (SIC) code for Better Home & Finance Holding Company?
The SIC code is 6163, which corresponds to Loan Brokers.
Filing Stats: 921 words · 4 min read · ~3 pages · Grade level 13.3 · Accepted 2024-04-10 08:47:09
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
- $1.00 — otice") to evidence compliance with the $1.00 per share requirement for continued inc
Filing Documents
- betr-20240409.htm (8-K) — 32KB
- 0001628280-24-015553.txt ( ) — 200KB
- betr-20240409.xsd (EX-101.SCH) — 2KB
- betr-20240409_def.xml (EX-101.DEF) — 16KB
- betr-20240409_lab.xml (EX-101.LAB) — 28KB
- betr-20240409_pre.xml (EX-101.PRE) — 17KB
- betr-20240409_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 April 9, 2024, Better Home & Finance Holding Company (the "Company") received formal notice that the Listing Qualifications Staff of The Nasdaq Stock Market LLC ("Nasdaq") granted the Company's request for an additional 180-day period, or until October 7, 2024, (the "Extension Notice") to evidence compliance with the $1.00 per share requirement for continued inclusion on The Nasdaq Capital Market pursuant to Nasdaq Listing Rule 5550(a)(2) (the "Bid Price Rule"). If at any time before October 7, 2024, the bid price of the Company's Class A common stock, par value $0.0001 per share (the "Class A Common Stock") closes at $1.00 per share or more for a minimum of ten consecutive business days, Nasdaq will provide the Company with written confirmation of compliance with the Bid Price Rule. As previously disclosed, on October 12, 2023, the Company received a letter from Nasdaq notifying the Company that it was no longer in compliance with the Bid Price Rule. 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. On March 7, 2024, the Company received approval from Nasdaq to transfer the listing of its Class A Common Stock, which transfer became effective on March 13, 2024. On March 11, 2024, the Company applied for an extension of the compliance period for an additional 180 days. The Company subsequently provided notice of its intention to cure the deficiency during the extended compliance period by effecting a reverse stock split, if necessary. If the Company fails to regain compliance with the Bid Price Rule during the additional compliance period, then Nasdaq will notify the Company of its dete
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits: The following exhibits relating to Item 9.01 shall be deemed to be furnished, and not filed: Exhibit Description 104 Cover Page Interactive Data File (formatted as Inline XBRL) SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, 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: April 10, 2024 By: /s/ Kevin Ryan Name: Kevin Ryan Title: President and Chief Financial Officer