Activant Capital Joins Consent Solicitation to Remove Five Directors
BETR is trading near its 52-week low of $13.18 (2.9% above the low) on elevated volume (2.2× avg).
Summary
Activant Capital has joined the effort to remove five Better Home & Finance directors, including interim CEO Daniel Lewis, by executing a written consent. This escalates the proxy fight and increases the chance of a board shakeup.
Key Events · Corporate Governance and Compliance · BETR
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Activant Executes Consent to Remove Directors
On August 16, 2026, Steven Sarracino, on behalf of Activant Capital and its affiliates, executed a written consent to remove five directors: Harit Talwar, Arnaud Massenet, Bhaskar Menon, Prabhu Narasimhan, and Daniel Lewis.
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Activant Aligns with Vishal Garg
This action mirrors the consent solicitation launched by founder Vishal Garg on August 17, 2026, targeting the same five directors. Activant's participation adds significant shareholder weight to the removal effort.
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Consent Effective Upon Threshold
The written consent becomes effective upon delivery of consents representing the minimum votes required under Delaware law and the company's charter, potentially forcing a board change without a formal meeting.
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Activant Holds 8.9% of Class A Shares
Activant and its affiliates report aggregate ownership of 1,290,178 Class A shares, representing 8.9% of the class, giving them substantial influence in the consent process.
Analysis · BETR · Finance
A major shareholder has thrown its weight behind the campaign to oust five directors, including interim CEO Daniel Lewis. Activant Capital, which controls 8.9% of Class A shares, has formally executed a written consent to remove them. This move aligns the firm with founder Vishal Garg's efforts and significantly raises the pressure on the board. The consent will take effect if enough shareholders join to meet the Delaware law threshold, making a board takeover more likely.
At the time of this filing, BETR was trading at $13.56 on NASDAQ in the Finance sector, with a market capitalization of approximately $257.2M. The 52-week trading range was $13.18 to $94.06. This filing was assessed with negative market sentiment and an importance score of 8 out of 10.