Shravin Mittal - 22 Aug 2023 Form 4 Insider Report for Better Home & Finance Holding Co (BETR)

Role
Former Director
Signature
/s/ Arnaud Massenet, attorney-in-fact for Shravin Mittal
Issuer symbol
BETR
Transactions as of
22 Aug 2023
Net transactions value
$0
Form type
4
Filing time
24 Aug 2023, 21:46:34 UTC
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction BETR Class A Ordinary Shares Other -1,000,000 -100% 0 22 Aug 2023 Held through Unbound Holdco Ltd. F1
transaction BETR Class A Common Stock Other +1,000,000 1,000,000 22 Aug 2023 Held through Unbound Holdco Ltd. F1
transaction BETR Class A Common Stock Conversion of derivative security +1,159,375 +116% 2,159,375 22 Aug 2023 Held through Unbound Holdco Ltd. F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction BETR Warrant (right to buy) Other -1,393,343 -100% 0 22 Aug 2023 Class A Common Stock 1,393,343 $11.50 Held through Unbound Holdco Ltd. F1, F3
transaction BETR Warrant (right to buy) Other +1,393,343 1,393,343 22 Aug 2023 Class A Common Stock 1,393,343 $11.50 Held through Unbound Holdco Ltd. F1, F3
transaction BETR Class B Ordinary Shares Conversion of derivative security -1,159,375 -100% 0 22 Aug 2023 Class A Common Stock 1,159,375 Held through Unbound Holdco Ltd. F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Shravin Mittal is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 On August 22, 2023, in connection with the completion of the Issuer's (as defined below) initial business combination (the "Business Combination") pursuant to the Agreement and Plan of Merger (as amended, the "Merger Agreement"), dated May 10, 2021, by and among Aurora Acquisition Corp. ("Aurora"), Aurora Merger Sub I, Inc., and Better Holdco Inc., outstanding units of Aurora automatically separated and converted, with each unit converting into one share of the Issuer's Class A common stock and one-quarter of one warrant to purchase shares of common stock of the Issuer (each, an "Issuer Warrant") for no additional consideration. The Issuer Warrants have an exercise price of $11.50 and will expire on August 22, 2028, five years from the completion of the Business Combination, or earlier upon redemption or liquidation. As part of the Business Combination, Aurora changed its name to Better Home & Finance Holding Company (the "Issuer").
F2 In connection with the completion of the Business Combination, the Class B ordinary shares of Aurora, par value $0.0001 per share, automatically converted into shares of the Issuer's Class A common stock on a one-for-one basis for no additional consideration.
F3 In connection with the completion of the Business Combination, the warrants to purchase Class A ordinary shares of Aurora that were sold in a private placement that closed simultaneously with Aurora's initial public offering automatically converted into Issuer Warrants.

Remarks:

This "exit" Form 4 is filed voluntarily to report that, as a result of the Business Combination, the Reporting Person is no longer serving as a director of the Issuer, effective as of August 22, 2023, and therefore is no longer subject to Section 16 reporting requirements. Mr. Mittal did not have any other transactions in the Issuer's securities during the time that he was a Section 16 reporting person other than those previously disclosed in the Initial Statement of Beneficial Ownership of Securities on Form 3, filed on March 23, 2021. Exhibit 24.1 - Power of Attorney