Better Home & Finance Holding Company (NASDAQ:BETR) shares declined about 14% after the company revealed the pricing details of an underwritten public offering of 1,875,000 shares of its Class A common stock.
The transaction is expected to raise roughly $60 million in gross proceeds before deducting underwriting discounts and commissions. The company has also granted the underwriters a 30-day option to buy up to an additional 281,250 shares to cover potential overallotments.
Before the announcement, the stock had closed at $44.84. All shares included in the offering will be issued and sold directly by the company, which said it plans to use the net proceeds to support growth initiatives and for general corporate purposes.
The offering is scheduled to close on April 9, 2026, subject to customary closing conditions. BTIG and Cantor Fitzgerald are serving as joint book-running managers for the deal.