Former operations head Sarah Pierce, who had accused Better CEO Vishal Garg of providing misleading information to investors in leadup to SPAC, faced $2.76M judgment in countersuit
In addition to going public at a bad time for mortgage lenders, Barron's reports that SPAC merger resulted in a huge increase in the number of shares outstanding
Following 2 years of challenges, Better will go public Thursday with $565M in new funding and plans to 'aggressively' partner with agents as it builds its mortgage production team
Through Better's Equity Unlocker program, borrowers pay a higher interest rate and Better can seize pledged shares if owners default or try to sell their stock before paying off their mortgages
In a new SEC filing, the mortgage lender points to actions by CEO Vishal Garg as reasons that areas of company culture ‘require improvement.’ Steep losses are expected in Q4
Better employees reportedly 'leaving the company in droves' following the return of CEO Vishal Garg