Aurora Acquisition in an 8-K said it was notofied by the Nasdaq of a potentitial delisting on the exchange because its outstanding shares have fallen below the 500,000 minimum public float,
The SPAC said it would work with the exchange to regain compliance.
Better is an online home ownership platform. The deal was announced nearly two years ago.
When announced in May 2021, the transaction valued the merged companies at $6.9 billion. It's been a rocky road for both companies ever since.
Aurora raised $220 million in a March 2021 IPO and announced the deal with Better two months later. The SPAC has restated its financials at least twice for the sec since then, while the merger agreement with Better has been amended multiple times.
A third deadline extension announced in March gives the SPAC until September to seal the deal, Read more.
Source: Aurora Acquisition Hit with Nasdaq Delisting Notice as Pending Merger with Better.com Drags On