Better.com’s SPAC Merger Will Be Delayed by Changes It Made a Day Before Laying Off 900 People on Zoom

Better HoldCo Inc., a mortgage and real estate startup backed by SoftBank Group Corp., is pushing back its public listing through a merger with a blank-check firm, according to people with knowledge of the matter, after amending the deal a day before it terminated 9% of its workforce.

The company will seek new regulatory approval after revising the terms of the merger with Aurora Acquisition Corp., a special purpose acquisition company, said one of the people, who asked not to be identified discussing private information. That will push back the closing of the transaction, which the companies had previously announced was likely to happen in the fourth quarter.