SPAC: Aurora Acquisition Corp Will Acquire Better, Shares Sink on the News

August 14, 2023 @ 4:06 pm By JD Alois

Special Purpose Acquisition Company (SPAC) Aurora Acquisition Corp (NASDAQ:AURC) is moving forward to acquire Fintech Better.

On Friday, Aurora announced that shareholders had voted to approve the merger, with the closing expected to take place on August 22, 2023.

In April 2021, Aurora announced that it had closed on a $220 million initial public offering. The following month, Aurora revealed a merger with “digital home ownership platform” Better.

At that time, Better was valued at $6.9 billion.

Shares of Aurora traded at over $35 a share at market close on Friday. Today, shares have tanked now trading over $22 a share, losing over 33% of its valuation. Investors are clearly disappointed in the decision to move forward with the merger.

Since the SPAC deal was announced, valuations of many firms have retrenched from previously lofty heights.

Founded in 2014 with a mission to “re-engineer” the mortgage process, the digital service allows borrowers to receive a mortgage all online while also providing complimentary services such as insurance. The company reports funding over $100 billion in mortgages all online.

Reg A - Form 1-A Filings Beta

Beta. Initial Form 1-A only. Target raise is the stated Amount to be Raised, totaled. Compared with the same dates one year earlier.

YTD: Jan 1, 2026 - Oct 23, 2026 vs Jan 1, 2025 - Oct 23, 2025

Number of Filings131Prior 125 +4.8%

Target Raise, Total$3.40BPrior $3.54B -3.9%

	This YTD	Year prior	Change
Filings	131	125	+4.8%
Target raise	$3.40B	$3.54B	-3.9%

Sponsored by the Crowded Media Group the leading digital news service covering the global Fintech Industry, including digital assets, crowdfunding, tokenization, and other innovations in capital markets. email us @CrowdfundInside

Source: DisclosureQuest. Initial Form 1-A only.

Created by Crowded Media Group

This display counts initial Form 1-A filings only. It does not represent subsequent filings, including Form 1-A/A amendments or Form 1-A POS post-qualification updates filed by the issuer. Amounts are the stated Amount to be Raised on the initial filing, not capital raised and not amounts revised in later filings.

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