Better Home & Finance announced Monday that it's strengthening its finances through unexpectedly high originations, cost cuts, the sale of a United Kingdom bank and a stock offering.

The company reported that it is categorizing Birmingham Bank as held-for-sale and indicated it was actively working to shed it. Better also noted it has priced a class A common stock offering, after which the company will end its at-the-market equity program.

These moves, in conjunction with at least $25 million in expense reductions it plans to engage in during the second quarter, follow the completion of plans to scale up warehouse financing and origination that the at-the-market program was designed to help fuel.

"Our decision to raise capital, simplify our international footprint, and reduce costs will position the company to act decisively on high-conviction growth opportunities without reliance on the equity capital markets," CEO Vishal Garg said in a press release.

More details from recent announcements

• The $60 million public stock offering with over-allotments of $9 million priced at an approximate 3.9% discount to the company's 30-day volume weighted average price of its class A shares on April 7.

• The preliminary loan volume number topped $1.64 billion despite purchase market softness, outpacing guidance for $1.4 billion-$1.55 billion. This marked an 89% increase from a year earlier and roughly a 12% gain on the previous quarter's $1.46 billion.

• The company said it has a "clear line of sight" to break even on its adjusted earnings before interest, taxes, depreciation and amortization by the time the third quarter closes.