Better.com CEO Vishal Garg has acknowledged to employees that he “personally guaranteed” the $750 million cash infusion provided to the online mortgage lender last November in an email seen by TechCrunch.
Let’s start at the beginning. Last May, Better.com announced that it was going public via a SPAC that would value the company at nearly $7 billion. Then on November 30, the company announced that blank-check company Aurora Acquisition Corp. and SoftBank decided to amend the terms of their financing agreement to provide Better with half of the $1.5 billion they committed immediately instead of
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Better.com CEO Vishal Garg says he is ‘personally liable’ for $750M SoftBank loan
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