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Bulletins

Better.com is going public through a SPAC

The digital mortgage lender is pursuing an alternate route to Wall Street.

"Mortgage" spelled out on Scrabble tiles.

Better.com spells IPO with a SPAC.

Better.com said Tuesday that it is going public via a special acquisition acquisition company in a deal that values the digital mortgage lender at $6.9 billion.


Better.com has signed a merger agreement with Aurora Acquisition Corp., which completed its own initial public offering in March. The merger, once effective, would turn Better.com into a publicly listed company. The companies said they expected to complete the deal by December.

SB Management Limited, a SoftBank subsidiary, will be part of the deal through a $1.5 billion private investment in public equity. Better.com announced last month that SoftBank had invested $500 million in the company, boosting its valuation to $6 billion.

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