If all shares of the new offering are sold, the company could potentially increase its originations from $500 million to as much as $2 billion per month. In Q2 of 2025, Better originated an average of $400 million per month, up from $290 million in Q1.
This recent offering is a result of two agreements signed in September, which have not yet been launched commercially.
As part of these agreements, Better will provide mortgage financing to a top-five personal financial services platform with over 50 million customers, as well as home equity loans to a top-five nonbank mortgage originator and servicer.
Both of these partners will utilize Better’s Tinman artificial intelligence platform. The company anticipates that these partnerships will significantly increase its monthly loan volume.
The $75 million raise is structured as an at-the-market program, allowing Better to gradually sell shares into the market when prices are favorable, rather than in a single block sale. Cantor Fitzgerald & Co. and BTIG are serving as agents and will earn a 2% commission on gross sales.
In addition, Better registered a $200 million shelf offering with the SEC in June, giving it the flexibility to issue additional securities.
On Monday morning, Better’s shares surged over 18% to $62.72.
Speculative interest in the stock has been growing in recent weeks, especially after hedge fund manager Eric Jackson – known for his role in Opendoor’s rally – endorsed Better on X, referring to it as the “Shopify of mortgages” and suggesting it could potentially see a 350-fold increase in value in just 2 years.