4/A: Better Home & Finance Holding Co: Amendment to Form 4 Reveals Indirect Ownership Changes
SEC Filing
An amended SEC Form 4 filing reveals changes in indirect beneficial ownership of Better Home & Finance Holding Co shares by Steven Sarracino and affiliated entities.
Summary
- This is an amended Form 4 filing by Steven Sarracino and related entities, including Better Voyager Partners Company Limited and various Activant Ventures funds, regarding beneficial ownership of Better Home & Finance Holding Co (BETR) stock.
- The amendment updates the original filing to include Better Voyager Partners Company Limited as a reporting person through which Mr. Sarracino indirectly owns beneficial ownership.
- On September 30, 2024, an Activant-affiliated entity entered into a purchase agreement to acquire certain portfolio property, including Better Voyager Partners Company Limited, which holds 72,206 shares of Class B Common Stock.
- Closing occurred on October 16, 2024, and Mr. Sarracino became a director of PAVF Holding Company Limited, the sole shareholder of Better Voyager Partners Company Limited, giving him potential voting and dispositive power over those shares.
- Mr. Sarracino also has indirect beneficial ownership through Activant Holdings I, Ltd., Activant Ventures III, L.P., and several Activant Ventures III Opportunities Funds.
- He disclaims beneficial ownership of these securities except to the extent of his pecuniary interest.
- Class B Common Stock is convertible to Class A Common Stock under certain conditions, including transfer, reaching a threshold of less than 5% outstanding, a vote of 85% of holders, or the death/disability of Better Holdco's founder.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing, so the sentiment is neutral. It simply reports changes in beneficial ownership.
Industry Context
Form 4 filings are standard disclosures required by the SEC to provide transparency into the transactions of company insiders, including directors, officers, and principal stockholders. This filing reflects changes in ownership structure related to investment entities.
Stakeholder Impact
- The filing provides transparency to shareholders regarding the ownership structure of the company.
- It informs stakeholders about the potential influence of Steven Sarracino and affiliated entities.
Key Dates
| Date | Description |
|---|---|
| 09/30/2024 | Activant-affiliated entity entered into a purchase agreement to acquire portfolio property, including Better Voyager Partners Company Limited. |
| 10/02/2024 | Date of Original Filed Form 4. |
| 10/16/2024 | Closing occurred on the purchase agreement, and Mr. Sarracino became a director of PAVF Holding Company Limited. |
| 10/25/2024 | Date of amended filing. |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.