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
The mortgage lender says it remains committed to distributing equity-based bonuses to all eligible employees, including $50M from CEO and founder Vishal Garg's personal equity
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
Comparing himself to Henry Ford and Elon Musk, CEO says he's reconfigured Better's assembly line to crank out mortgages in a single day
Mortgage upstart Better's plan to go public via a SPAC merger faces new challenges as banks that were advising the companies resign their roles
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