Better Home & Finance Shares Decline Further Amid Plans to Sell U.K. Bank, Cut Costs

Dow Jones04-09

By Kelly Cloonan

Shares of Better Home & Finance Holding slid after the company disclosed a number of plans aimed at achieving profitability, including efforts to sell its U.K.-based bank and cut costs.

The stock fell 23% to $34.65 on Wednesday, on pace for its largest percent decrease since 2023. Shares are up about 6.3% year to date.

As part of its new strategy, the mortgage and home-equity finance company said its U.K.-based bank is currently in an active sale process and will be classified as held for sale in the fiscal first quarter. The sale aims to simplify the company's operations, it said.

Better Home & Finance also said it plans to implement at least $25 million in annualized cost reductions beginning in the fiscal second quarter.

Shares were also down in premarket trading after the company said it would offer 1.875 million shares in a public offering for about $60 million in gross proceeds. The company said it intends to use the proceeds for growth capital and general corporate purposes.

"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 for the foreseeable future," Chief Executive Vishal Garg said.

Write to Kelly Cloonan at kelly.cloonan@wsj.com

(END) Dow Jones Newswires

April 08, 2026 13:25 ET (17:25 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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