Summary by Moomoo AI
Better Home & Finance Holding (NASDAQ: BETR; BETRW), a New York-based digital homeownership company, has announced the completion of a 1-for-50 reverse stock split. This action was taken to increase the per-share trading price of the company's Class A common stock, allowing the company to regain compliance with Nasdaq's minimum bid price requirement. The reverse stock split became effective on August 16, 2024, and the Class A common stock began trading on a split-adjusted basis on August 19, 2024. As a result of the reverse stock split, the number of outstanding shares of Class A, B, and C common stock was significantly reduced. No fractional shares were issued; instead, shareholders will receive a cash payout for any fractional shares they would have held. The company's public warrants continue to trade under the ticker symbol BETRW. The reverse stock split details were disclosed in a Form 8-K filed with the U.S. Securities and Exchange Commission on August 19, 2024.