BETR · Better Home & Finance Holding Company

Summary

Better Home & Finance Holding Company completed a public offering of 2.16 million shares of Class A common stock at $32.00 per share, raising approximately $66.1 million in net proceeds, and reported preliminary Q1 2026 funded loan volume of $1.64 billion, an 89% year-over-year increase.

Key takeaways

• The company completed an underwritten public offering of 2,156,250 shares of Class A common stock at $32.00 per share, generating approximately $66.1 million in net proceeds before expenses.
• Preliminary Q1 2026 funded loan volume was $1.64 billion, representing an 89% year-over-year increase and exceeding the high end of the previously stated guidance range of $1.40 billion to $1.55 billion.
• Following the offering, the company expects to have an estimated cash and cash equivalents balance of approximately $130 million, which includes $24 million attributable to its U.K.-based bank.
• The company reaffirmed its expectation to achieve $1.0 billion in monthly loan volume, consisting of funded loan volume and processed loans, by the end of May 2026, assuming continued Tinman® AI Platform partnership growth.
• The offering was made pursuant to a shelf registration statement and involved underwriters BTIG, LLC and Cantor Fitzgerald & Co., who received underwriting discounts and commissions of 4.25% of the gross proceeds.
• The company and its directors and executive officers agreed to a 60-day lock-up period, restricting the sale or transfer of Class A common stock without the underwriters' written consent, subject to certain exceptions.