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BRIEF-SoftBank-backed Better To Go Public Via Merger With Aurora Acquisition Corp

05/11/2021 08:24
BRIEF-SoftBank-backed Better To Go Public Via Merger With Aurora Acquisition Corp

- Aurora Acquisition Corp AURC.O:

  • DIGITAL HOMEOWNERSHIP PLATFORM BETTER TO BECOME A PUBLICLY-LISTED COMPANY VIA MERGER WITH AURORA ACQUISITION CORP.; COMPANY IS REDEFINING THE HOMEOWNERSHIP EXPERIENCE

  • AURORA ACQUISITION CORP - TRANSACTION VALUES BETTER AT APPROXIMATELY $6.9 BILLION PRE-MONEY EQUITY VALUE

  • AURORA ACQUISITION CORP - ANTICIPATED THAT TRANSACTION WILL PROVIDE BETTER WITH $778 MILLION OF PRIMARY PROCEEDS

  • AURORA ACQUISITION CORP - VISHAL GARG AND EXISTING BETTER MANAGEMENT TO CONTINUE LEADING BETTER

  • AURORA ACQUISITION - SOFTBANK COMMITS TO INVEST $1.5 BILLION VIA PIPE INVESTMENT, OF WHICH $200 MILLION WILL BE SUBSCRIBED BY AURORA'S SPONSOR, NOVATOR CAPITAL

  • AURORA ACQUISITION CORP - OF TOTAL CONSIDERATION TO EXISTING STOCKHOLDERS OF BETTER, $950 MILLION WILL BE PAID IN CASH, REMAINDER IN STOCK OF NEW BETTER

  • AURORA ACQUISITION CORP - TRANSACTION REFLECTS AN IMPLIED POST-MONEY EQUITY VALUE FOR BETTER OF APPROXIMATELY $7.7 BILLION

Source text for Eikon: ID:nBw6jHf6Ca

Further company coverage: AURC.O


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