Better Home & Finance Says Garg Again Extends Consent Deadline to Oct 2, Lacks Shareholder Support
BETR is trading near its 52-week low of $11.111 (11% above the low).
Summary
The Special Committee says former CEO Vishal Garg has again extended his consent solicitation deadline, this time to October 2, after failing to deliver consents by September 18. The company claims Garg has almost no support from public shareholders beyond a few longtime allies, and that both ISS and Glass Lewis have recommended shareholders support the current Board. This follows a series of SEC filings and public statements in the ongoing proxy contest, including Garg's failed attempt to remove five directors and the company's lawsuit against him. The extension suggests Garg's campaign is struggling, which could reduce uncertainty for the company. The next key date is October 2, when Garg's new deadline expires.
At the time of this announcement, BETR was trading at $12.35 on NASDAQ in the Finance sector, with a market capitalization of approximately $234.2M. The 52-week trading range was $11.11 to $94.06. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: BusinessWire.