Better Home & Finance Holding Co（BETR）のニュースとイベントBETRBetter Home & Finance Holding Co

Better Home & Finance Board Responds to Former CEO's Plan

The Special Committee of the Board of Directors of Better Home & Finance Holding Company issued the following statement in response to a press release issued by former CEO Vishal Garg announcing his grand "plan" for the Company: "Mr. Garg's latest press release is another example of his longstanding pattern of making grandiose promises that lack a credible foundation in the Company's operational realities and that will never be implemented by Mr. Garg. Mr. Garg led Better for more than a decade and had every opportunity to implement a plan to improve its performance and stock price. His latest plan is not only conspicuously late-it is also utterly unworkable... Mr. Garg now claims that he could complete the sale of Better's UK-based bank within 30 days of a transition to his hand-picked directors (who nobody knows anything about), without acknowledging that any such sale would be subject to lengthy regulatory approval. The Board of Directors, excluding Mr. Garg, unanimously decided to change the leadership of the business. It did not do so because Garg lacked fantastical ideas or dreams. Rather, after years of working with him and witnessing a consistent pattern of unmet commitments, the Board concluded that the Company needed new leadership capable of translating Better's strengths and opportunities into disciplined execution, driving growth, profitability and long-term shareholder value. Better has exceptional technology, products and people, and the Board of Directors and management team are focused on moving the Company forward under new leadership and realizing its significant potential for the benefit of all shareholders." The Special Committee unanimously recommends that shareholders sign, date and return the WHITE consent revocation card and disregard any green consent card received from Mr. Garg. Shareholders who have previously signed and returned a green consent card may revoke that consent at any time by signing, dating and returning the Company's WHITE consent revocation card.

Better Home & Finance Releases Investor Presentation Against Former CEO's Board Replacement Proposal

The Special Committee of the Board of Directors of Better Home & Finance Holding Company said it published an investor presentation in connection with the consent solicitation initiated by the Company's former CEO, Vishal Garg, and "his self-serving campaign to remove five members of the Company's Board of Directors, replace them with his hand-picked candidates and return himself to a leadership role at Better." "The presentation provides shareholders with important information regarding the Company's focused strategy under new leadership, Garg's record as CEO, his costly, distracting and improper consent solicitation, and the directors he seeks to remove from the Board," the committee said. "As described in the presentation, the Company is quickly moving to improve its performance and focus its strategy. Over the last month, the Company has adjusted its partnerships and model to drive profitable growth. These are things Garg failed to do for more than a decade. Garg is seeking to get back in control of Better, but without a plan. The Board (other than Garg) does not believe Garg should hold any executive role and does not believe Garg has a plan. And, even as Garg seeks to remove most of the directors, one of the few directors Garg would like to see remain on the Board, Hugh Frater, has said he will not serve on the Board if Garg returns to an executive role. Rather than going backwards with Garg, the Special Committee urges shareholder to move forward with new leadership and an improved plan. The team is already executing with discipline, reducing costs and investing in proven distribution channels to maximize the value of Better's core technology and competitive strengths for shareholders. We believe Better has the technology, products, people, partnerships and distribution capabilities necessary to create significant long-term value for shareholders. The Special Committee unanimously recommends that shareholders sign, date and return the WHITE consent revocation card and disregard any green consent card received from Mr. Garg. Shareholders who have previously signed and returned a green consent card may revoke that consent at any time by signing, dating and returning the Company's WHITE consent revocation card."

Better Home & Finance Special Committee Opposes Former CEO's Proposal

The Special Committee of the Board of Directors of Better Home & Finance Holding Company highlighted the findings of an independent analysis of the consent solicitation being conducted by the Company's former CEO, Vishal Garg. The committee said, "Proxyanalyst, an independent, AI-driven proxy analysis service, instructed four leading AI models-Claude, Gemini, Grok and OpenAI-to review the proxy materials of Better and Mr. Garg and other relevant data and generate analyses and conclusions. All four models concluded that Better shareholders should reject Mr. Garg's self-serving effort to remove five of the eight members of the Company's Board of Directors, replace them with his hand-picked candidates and return himself to a leadership role at the Company...In reaching their determinations, the AI models highlighted the significant risk if Mr. Garg were to succeed in removing a majority of Better's Board without identifying a single replacement director, giving him virtually unfettered control over Better. The AI model analyses reviewed by Proxyanalyst also noted the following: Mr. Garg's record as CEO significantly undermines his case for returning to power. Better generated substantial net losses during Mr. Garg's tenure and the Company's stock price declined significantly following its 2023 de-SPAC transaction. Mr. Garg's proposal could create significant governance and Nasdaq compliance risks. Mr. Garg's conduct during his campaign, including his misrepresentation of shareholder support for his consent solicitation, raises further concerns regarding his credibility.Better's current path provides shareholders with a more credible opportunity to create long-term value." The Special Committee issued the following statement: "The Proxyanalyst conclusion and the unanimity of the independent AI models reinforce our conviction that Mr. Garg's campaign is not in the best interests of the Company or its shareholders. Mr. Garg is asking shareholders to take an extraordinary and destructive action without providing them with the most basic information necessary to make an informed decision about the future of the Company. Mr. Garg led Better for more than a decade and had every opportunity to achieve consistent profitability and create value for shareholders, but he failed to do so. It is time for Better to move forward. We believe our shareholders, employees, customers and partners deserve stability, transparency and a thoughtful transition to the Company's next generation of leadership-not another period of uncertainty and disruption."