Historic Win for Better Home & Finance Shareholders as Garg Group Secures Majority Vote to Retake Control of Company

The proposed buyback depends on asset sales and efficiency realizations, with an initial $10 million tranche requiring Board approval.

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Leadership Group Led by Founder and Former CEO Vishal Garg Announces and Prepares to Launch Detailed 90-Day Turnaround Plan Which Includes Removal of Current Board

NEW YORK--(BUSINESS WIRE)-- Vishal Garg and The Garg Group today announced that they have secured written consents representing over 51% of the voting shares of Better Home & Finance Corporation (“Better” or the “Company”) (Nasdaq: BETR), allowing Garg to return after less than two months.

“This is a resounding victory for Better’s shareholders, customers and employees, who all participated in organizing the resistance to the coup led by Daniel Lewis and the incumbent board. Now we get back to the work of driving Better to a new chapter of profitable growth building on the progress we have made in the past two years in establishing Tinman AI, the best platform in the mortgage industry,” said Vishal Garg, Founder of Better.

“This historic victory serves the best interests of every Better shareholder,” said Alex Spiro, Partner at Quinn Emanuel Urquhart & Sullivan. “No public CEO has ever been pushed out, litigated the issue, and won his way back in two months. Vishal Garg has been vindicated.”

Upon formal acceptance of the proxy results by the Company, The Garg Group will execute the following structured 90-Day Plan:

1. Reconstitute the Company’s Board of Directors (the “Board”): Remove Daniel Lewis, Harit Talwar, Bhaskar Menon, Arnaud Massenet and Prabhu Narsimhan, and appoint Silicon Valley venture capitalists Bing Gordon and Steve Sarracino to the Board.
2. Appoint Interim Chief Executive Officer: Engage a senior executive from a Tier 1 Advisory Firm with specialized expertise in mortgage origination, servicing, and corporate growth to serve as Interim CEO.
3. Expand Operational Efficiency Targets: Retain a Tier 1 Advisory Firm to streamline operations across sales, origination, and corporate functions, leveraging AI-driven workflows to raise annual cost-savings targets from $45 million to $60 million.
4. Accelerate Revenue and Production: Finalize high-value Tinman AI platform partnerships and scale HELOC production to achieve $2 billion in quarterly combined volume.
5. Divest Non-Core Assets: Complete the strategic sale of the UK banking operations.
6. Authorize Share Repurchase Program: Implement a $30 million stock buyback plan following asset sales and efficiency realizations, beginning with an initial $10 million tranche upon Board approval.

Following the transition, Garg will serve as Head of Product, Platform, and Innovation, working closely with the incoming Interim CEO and executive team. The Garg Group expects the Board of Directors to promptly recognize the delivered majority consents and facilitate an orderly transition to protect and restore shareholder value.

Advisors
Alex Spiro, Michael Swartz and Minji Reem of Quinn Emanuel Urquhart & Sullivan, LLP served as legal advisors to the Garg Group. Andrew Freedman and Mark Kiley of Olshan Frome Wolosky LLP also served as legal advisors to the Garg Group. Longacre Square Partners provided strategy and governance advice to the Garg Group. Capital V and Hiltzik Strategies provided communications advice to the Garg Group.

Shareholder Conference Call
Better will hold an informational conference call for all shareholders to review the 90-Day Plan on Monday, October 5, 2026, at 4:30 PM ET. Dial-in details will be released shortly.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260930067906/en/

Media Contact:
info@onezerocapital.com
garggroup@longacresquare.com

Investor Contact:
Bruce Goldfarb / Chuck Garske
Okapi Partners LLC
(877) 629-6357

Source: On Behalf of Vishal Garg

Key Terms

heloc financial

A HELOC (home equity line of credit) is a revolving loan that lets a homeowner borrow against the value built up in their house, similar to a credit card but secured by the property. It matters to investors because HELOCs affect banks’ lending volumes, interest income and credit risk, and high consumer use or defaults can signal stress in the housing market and consumer spending, influencing related stocks and bond valuations.

written consents regulatory

Written consents are formal, signed approvals by a corporation’s shareholders or board members that authorize a specific corporate action without holding a meeting. Like signing a permission slip instead of gathering in a room, they let required decision-makers record votes in writing, using the same legal vote thresholds as a meeting; investors watch them because they can speed decisions and change governance or corporate plans without a public session.

stock buyback financial

A stock buyback is when a company uses cash to repurchase its own shares from the market, reducing the number of shares available to outside investors. This can raise the profit attributable to each remaining share and often supports the share price, like dividing the same pie into fewer slices. It can also mean the company sees fewer attractive investment opportunities for that cash, so the context of the announcement matters.