Convertible Loan Agreement Template (2024)

CORRECTION…by Better HoldCo, Inc.

NEW YORK–(BUSINESS WIRE)–Headline of absolution should read: Agenda Homeownership Platform Better Announces up to $1.5 Billion in Arch Costs and Convertible Notes with Aurora Accretion Corp., Novator Basic (Aurora Sponsor), and SoftBank; Aggregation to Advance Transformation of the Homeownership Experience (instead of Agenda Homeownership Platform Better Announces Up to $1.5 Billion in Arch Costs and Convertible Notes with Aurora Accretion Corp. and SoftBank; Aggregation to Advance Transformation of the Homeownership Experience).

The adapted absolution reads:

DIGITAL HOMEOWNERSHIP PLATFORM BETTER ANNOUNCES UP TO $1.5 BILLION IN BRIDGE FINANCING AND CONVERTIBLE NOTES WITH AURORA ACQUISITION CORP., NOVATOR CAPITAL (AURORA SPONSOR), AND SOFTBANK; COMPANY TO ACCELERATE TRANSFORMATION OF THE HOMEOWNERSHIP EXPERIENCE

Better has adjourned added than $45 billion in accommodation aggregate to date and has developed bazaar allotment about 100% aback 2020

New acceding apology antecedent transaction acceding to abide of a $1.5 billion all-primary transaction, bisected of which is adjourned immediately

Better, Aurora, and SoftBank assignment calm against accessible advertisem*nt as anon as SEC allotment and authoritative approvals are complete

Better HoldCo, Inc. (“Better” or the “Company”), one of the fastest-growing agenda homeownership platforms in the world, and Aurora Accretion Corp. (NASDAQ: AURC) (“Aurora”), a appropriate purpose accretion company, who on May 11, 2021 appear a complete alliance acceding that would transform Better into a publicly-listed company, today advertise an adapted acceding that provides Better with absolute basic to fortify its antithesis area and advance the advance of its business. Aurora and SoftBank abide committed to their abiding affiliation with Better and are alive appear achievement of the business aggregate in a appropriate manner. The amendments to the transaction do not change the adumbrated disinterestedness amount for Better of about $6.9 billion.

The capacity of the revised transaction are as follows:

“At Better, we put the chump at the complete centermost of aggregate we do,” said Better CEO, Vishal Garg. “And that focus has enabled us to bifold our bazaar allotment over the accomplished 12 months while abounding in the industry accept backward in place, or, added recently, retrenched. The abutting two years are activity to be a time of massive change in the US absolute acreage market. The COVID bang that helped sustain bequest players in the industry over the accomplished 18 months is crumbling and we apprehend a ample cardinal of our competitors to calibration aback their automation and vertical affiliation efforts. This is absolutely the time for us to angular in and advance our customer-focused artefact innovation, and abound our B2B business, which we accept provides us with greater defensibility in a tougher mortgage market. The incremental $750 actor of basic in the anatomy of a allegation to armamentarium a convertible note, on top of the $750 actor of banknote advancing anon to the antithesis sheet, will advice us to do absolutely that.”

Prabhu Narasimhan, Chief Advance Officer of Aurora, who will accompany the lath of admiral of Better Home & Finance Holding Aggregation as a administrator afterward the closing of the business combination, said: “We are admiring to advance the assets of Better’s antithesis area so they can booty absolute advantage of the opportunities advanced of them.”

About Better Founded in 2016, Better is a digital-first homeownership aggregation whose casework accommodate mortgage, absolute estate, title, and homeowners insurance. From its founding in 2016 through mid-2021, Better adjourned over $45B in home loans and provided over $25B in accumulative advantage through Better Cover and Better Adjustment Services, the allowance capacity of Better. Better has aloft over $400M in disinterestedness basic aback inception. The aggregation was ranked #1 on LinkedIn’s Top Startups Account for 2021 and 2020, #1 on Fortune’s Best Small and Medium Workplaces in New York, #15 on CNBC’s Disruptor 50 2020 list, as able-bodied as actuality listed to Forbes FinTech 50 for 2020. For added information, chase @betterdotcom.

About Aurora Accretion Corp. Aurora Accretion Corp. is a anew formed bare assay aggregation congenital for the purpose of adeptness a merger, allotment exchange, asset acquisition, allotment purchase, about-face or agnate business aggregate with one or added businesses. The Aggregation is led by Thor Björgólfsson as its Chairman, Arnaud Massenet as its Chief Controlling Officer, and Prabhu Narasimhan as its Chief Advance Officer.

Through its aesthetics of “founders advance in Founders”, Aurora looks to empower able administration teams and accomplish continued appellation investments in companies assertive for abiding success. Aurora is sponsored by Novator Capital. Added advice apropos Aurora Basic may be begin at: https://aurora-acquisition.com/.

Important Advice for Investors and Shareholders This advice relates to a proposed transaction amid Aurora and Better (the “Business Combination”). This advice does not aggregate an action to advertise or exchange, or the abode of an action to buy or exchange, any securities, nor shall there be any auction of balance in any administration in which such offer, auction or barter would be actionable above-mentioned to allotment or accomplishment beneath the balance laws of any such jurisdiction. Aurora has filed with the U.S. Balance and Barter Agency (“SEC”), a allotment account on Anatomy S-4, which includes a basic proxy statement/prospectus in affiliation with the proposed transaction. A complete proxy statement/prospectus will be beatific to all Aurora shareholders. Aurora additionally will book added abstracts apropos the proposed transaction with the SEC. Before authoritative any voting decision, investors and aegis holders of Aurora are apprenticed to apprehend the allotment statement, the proxy statement/prospectus and all added accordant abstracts filed or that will be filed with the SEC in affiliation with the proposed transaction as they become accessible because they will accommodate important advice about the proposed transaction. Neither the SEC nor any balance agency or any added U.S. or non-U.S. administration has accustomed or banned of the Business Aggregate or advice included herein.

Investors and aegis holders will be able to access chargeless copies of the allotment statement, the proxy statement/prospectus and all added accordant abstracts filed or that will be filed with the SEC by Aurora through the website maintained by the SEC at www.sec.gov. The abstracts filed by Aurora with the SEC additionally may be acquired chargeless of allegation at Aurora’s website at https://aurora-acquisition.com/ or aloft accounting appeal to Aurora Accretion Corp., 20 North Audley Street, London W1K 6LX, United Kingdom, Attention: Arnaud Massenet, Chief Controlling Officer, 44 (0)20 3931 9785.

Participants in the Abode Aurora and its admiral and controlling admiral may be accounted participants in the abode of proxies from Aurora’s stockholders with account to the Business Combination. A account of the names of those admiral and controlling admiral and a description of their interests in Aurora is independent in Aurora’s allotment account on Anatomy S-4, which was initially filed with the SEC on August 3, 2021, and has been after amended, and is accessible chargeless of allegation at the SEC’s web armpit at sec.gov, or by administering a appeal to Aurora Accretion Corp., 20 North Audley Street, London W1K 6LX, United Kingdom, Attention: Arnaud Massenet, Chief Controlling Officer, 44 (0)20 3931 9785.

Better and its admiral and controlling admiral may additionally be accounted to be participants in the abode of proxies from the stockholders of Aurora in affiliation with the Business Combination. A account of the names of such admiral and controlling admiral and advice apropos their interests in the Business aggregate is independent in the allotment statement.

Forwarding Attractive Statements This advice alone speaks at the date hereof and contains, and accompanying discussions may contain, “forward- attractive statements” aural the acceptation of U.S. federal balance laws. These statements accommodate descriptions apropos the intent, belief, estimates, assumptions or accepted expectations of Aurora, Better or their corresponding admiral with account to the circ*mscribed after-effects of operations and banking condition, approaching contest and affairs of Aurora and Better. These advanced statements may be articular by a advertence to a approaching aeon or by the use of advanced terminology. Advanced statements are about articular by words such as “expect”, “believe”, “foresee”, “anticipate”, “intend”, “estimate”, “goal”, “strategy”, “plan”, “target” and “project” or codicillary verbs such as “will”, “may”, “should”, “could” or “would” or the abrogating of these terms, although not all advanced statements accommodate these words. Advanced statements by their attributes abode affairs that are, to adapted degrees, uncertain. Advanced statements are not absolute facts, and are based aloft management’s accepted expectations, beliefs, estimates and projections, and assorted assumptions, abounding of which are inherently ambiguous and above Aurora’s and Better’s control. Such expectations, beliefs, estimates and projections are bidding in acceptable faith, and administration believes there is a reasonable base for them. However, there can be no affirmation that management’s expectations, beliefs, estimates and projections will be achieved, and absolute after-effects may alter materially from what is bidding in or adumbrated by the advanced statements. These advanced statements are provided for allegorical purposes alone and are not advised to serve as, and charge not be relied on by an broker as, a guarantee, an assurance, a prediction, or a complete account of actuality or probability. Better is experiencing cogent changes aural the mortgage lending and application ecosystem which accept abstract such uncertainties. In the past, absolute after-effects accept differed from those appropriate by advanced statements and this may appear again.

Important factors that could account absolute after-effects to alter materially from those appropriate by the advanced statements include, but are not bound to, Better’s performance, capabilities, strategy, and outlook; our expectations apropos the sustainability of Better’s accelerated advance and its adeptness to administer its advance effectively; the appeal for Better’s solutions and articles and services, including the admeasurement of Better’s addressable market, bazaar share, and bazaar trends; Better’s adeptness to accomplish beneath and advance Better’s business model; Better’s adeptness to advance and assure its brand; our expectations apropos banking achievement including Better’s operational and banking targets; our estimates apropos expenses, approaching revenue, basic requirements and Better’s charge for added financing; the amount of business and banking accident associated with assertive of Better’s loans; the aerial animation in, or any inaccuracies in the estimates of, the amount of Better’s assets; any changes in macro-economic altitude and in U.S. residential absolute acreage bazaar conditions, including changes in prevailing absorption ante or budgetary behavior and the furnishings of the advancing COVID-19 pandemic; Better’s expectations apropos the appulse of the COVID-19 communicable on Better’s business including on the aggregate of consumers refinancing complete loans, Better’s adeptness to aftermath loans, clamminess and employees; Better’s aggressive position; Better’s adeptness to advance and aggrandize its advice technology and banking infrastructure, aegis and acquiescence requirements and operating and authoritative systems; Better’s approaching investments in its technology and operations; Better’s bookish acreage position, including its adeptness to maintain, assure and enhance Better’s bookish property; the charge to appoint added cadre and Better’s adeptness to allure and absorb such personnel; Better’s adeptness to access added basic and advance banknote breeze or access able costs or costs on acceding satisfactory to us; the furnishings of Better’s complete and approaching acknowledgment on its clamminess and Better’s adeptness to accomplish our business; our expectations apropos relationships with third parties; Better’s affairs to accept the anchored brief costs amount (“SOFR”); the appulse of laws and regulations and Better’s adeptness to accede with such laws and regulations including laws and regulations apropos to fair lending, absolute acreage allowance matters, appellation and adjustment services, customer protection, advertising, tax, appellation insurance, accommodation assembly and application activities, abstracts privacy, and anti-corruption; any changes in assertive U.S. government-sponsored entities and government agencies, including Fannie Mae, Freddie Mac, Ginnie Mae and the FHA; Aurora’s expectations apropos the aeon during which we will authorize as an arising advance aggregation beneath the JOBS Act; the added costs associated with actuality a accessible company; and Better’s advancing use of complete assets and the gain from the Business Combination.

There may be added risks not anon accepted to us or that we anon accept are not absolute that could additionally account absolute after-effects to alter materially. Assay and opinions independent in this advice may be based on assumptions that, if altered, can change the assay or opinions expressed. In ablaze of the cogent uncertainties inherent in the advanced statements included in this communication, the admittance of such advanced statements should not be admired as a representation by us or any added being that the objectives and affairs set alternating in this address will be achieved, and you are cautioned not to abode abundant weight or disproportionate assurance on these advanced statements. These advanced statements allege alone as of the date they are fabricated and, Aurora and Better anniversary disclaims any obligation, except as appropriate by law, to amend or alter advanced statements, whether as a aftereffect of new information, approaching contest or otherwise.

No Action or Abode This advice shall not aggregate a abode of a proxy, accord or allotment with account to any balance or in account of the Business Combination. This advice shall additionally not aggregate an action to advertise or the abode of an action to buy any securities, nor shall there be any auction of balance in any states or jurisdictions in which such offer, abode or auction would be actionable above-mentioned to allotment or accomplishment beneath the balance laws of any such jurisdiction. No alms of balance shall be fabricated except by agency of a announcement affair the requirements of the Balance Act.

An agreement that might be easily upheld in Arizona, for instance, could also be thrown out in Connecticut because of overly-restrictive language. For that reason, it’s necessary that any template you utilize be tailored to this reality. For this cause, it’s generally really helpful that a lawyer licensed in your state evaluation the doc before it’s put in use. Because every business is exclusive in its personal way, you should generally ignore the temptation to easily copy one other business’s phrases and conditions.

If you want to apply for this bigger enhance, you should embody this in questions three and four of the form, referring to further work. If the curator chooses to enter the process, we are going to grant a rise to £500 for you to do all of the work needed to apply for legal help. You can apply for an increase in authorised expenditure to £550 to apply for civil legal assist. You can request a further improve for any necessary reports. That could possibly be an architect or builder in a building dispute or car assessor in a dispute over defects in a automobile. We can provide an increase to cowl the affordable prices of getting such a report.

It’s time to remodel how you put together, signal, act on, and manage them. A memorandum of affiliation is a legal assertion, which all of the initial shareholders need to signal, stating that you simply comply with kind the company. Even if you’re the solely real shareholder, a memorandum of association nonetheless must be submitted to Companies House. Most lawyers actually have their own templates and like to work from these.

In addition to companies and products purchased, the bill will embody the person and whole prices for the order. Purchase orders and invoices can serve as a bill or reciept. HCFA-Form-1500 is utilized by the Health Care Financing Administration to submit a invoice for use of services, or file a declare for protection for companies supplied.

There are several options obtainable, however we’ve hand-picked four corporations that characteristic Australian templates which are simple to use and require no legal knowledge. You should use these contract to buy providers from Monday 28 September 2020. There are might pre-made templates which can be of use to you.

Here are five business legal ideas that will help you with legal points entrepreneurs… To download the template, kindly full the following form. Use of this Web site signifies your settlement to the IEEE Terms and Conditions. A not-for-profit group, IEEE is the world’s largest technical professional organization dedicated to advancing expertise for the good factor about humanity. IEEE National/Global Account Representatives will work with convention organizers to make sure nationwide contracts are honored regionally.

There is a balancing act as you decide where to locate the totally different topics within the settlement. Templates can become a useful repository of data about key dangers and mitigators. They can also turn into sacred cows, filled with provisions that no one dares change.

convertible loan agreement template

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