Better extends deadline in proxy fight with former CEO Garg

Better Home & Finance Holding Company (NASDAQ:BETR) has extended the deadline for ex-CEO Vishal Garg's consent solicitation campaign to October 2nd, marking the third postponement in his attempt to remove a majority of the company's board members. The Special Committee of the Board stated Garg has yet to prove the 50.1% shareholder support he claimed to have secured earlier.

Garg originally set the deadline for September 8th, which he then pushed back to its current date. The company reported that Garg has not garnered significant support from public shareholders, aside from his longtime allies. Two proxy advisory firms, Institutional Shareholder Services and Glass Lewis & Co., advised shareholders to support the current board.

Better’s Special Committee advised shareholders to sign and return a white consent revocation card, disregarding any green consent card received from Garg. Shareholders who had already submitted a green consent card can revoke it by returning the company's white consent revocation card. Better Home & Finance, a mortgage and home equity finance platform, has funded over $110 billion in loan volume and serves customers across all 50 U.S. states and the United Kingdom.