NewtekOne Files 8-K on Financials and Debt
Ticker: NEWTH · Form: 8-K · Filed: Jul 24, 2024 · CIK: 1587987
| Field | Detail |
|---|---|
| Company | Newtekone, Inc. (NEWTH) |
| Form Type | 8-K |
| Filed Date | Jul 24, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.02, $137,170,000, $17,150,000, $190,520,000, $159,770,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: financial-condition, debt, operations
Related Tickers: NEWT
TL;DR
NEWT filed an 8-K detailing its financial condition and various debt notes due in 2024, 2026, 2028, and 2029.
AI Summary
NewtekOne, Inc. filed an 8-K on July 24, 2024, reporting on its financial condition and results of operations. The filing details various debt instruments, including "Five Point Seven Five Percent Notes Due 2024", "Five Point Five Zero Percent Notes Due 2026", "Eight Point Zero Percent Notes Due 2028", and "Eight Point Five Percent Notes Due 2029". The company is incorporated in Maryland and its fiscal year ends on December 31.
Why It Matters
This filing provides investors with an update on NewtekOne's financial structure and operational results, including details on its outstanding debt obligations.
Risk Assessment
Risk Level: medium — The filing details multiple debt instruments, indicating a level of financial leverage that warrants attention.
Key Players & Entities
- NewtekOne, Inc. (company) — Filer
- Maryland (jurisdiction) — State of Incorporation
- Five Point Seven Five Percent Notes Due 2024 (debt_instrument) — Debt Obligation
- Five Point Five Zero Percent Notes Due 2026 (debt_instrument) — Debt Obligation
- Eight Point Zero Percent Notes Due 2028 (debt_instrument) — Debt Obligation
- Eight Point Five Percent Notes Due 2029 (debt_instrument) — Debt Obligation
FAQ
What is the primary purpose of this 8-K filing for NewtekOne, Inc.?
The primary purpose is to report on the company's Results of Operations and Financial Condition, as well as to file Financial Statements and Exhibits.
When was this 8-K filing submitted to the SEC?
The filing was submitted on July 24, 2024.
What are some of the specific debt instruments mentioned in the filing?
The filing mentions 'Five Point Seven Five Percent Notes Due 2024', 'Five Point Five Zero Percent Notes Due 2026', 'Eight Point Zero Percent Notes Due 2028', and 'Eight Point Five Percent Notes Due 2029'.
In which state is NewtekOne, Inc. incorporated?
NewtekOne, Inc. is incorporated in Maryland.
What is NewtekOne, Inc.'s fiscal year end?
NewtekOne, Inc.'s fiscal year ends on December 31.
Filing Stats: 618 words · 2 min read · ~2 pages · Grade level 10.1 · Accepted 2024-07-24 17:30:06
Key Financial Figures
- $0.02 — ich registered Common Stock, par value $0.02 per share NEWT Nasdaq Global Market LLC
- $137,170,000 — by alternative business loans, selling $137,170,000 of Class A Notes and $17,150,000 of Cla
- $17,150,000 — lling $137,170,000 of Class A Notes and $17,150,000 of Class B Notes (collectively, the "No
- $190,520,000 — n Trust 2024-1. The Notes are backed by $190,520,000 of collateral, consisting of $159,770,0
- $159,770,000 — 90,520,000 of collateral, consisting of $159,770,000 of Company originated alternative loan
- $30,750,000 — native loan program ("ALP") loans and a $30,750,000 prefunding account to acquire additiona
Filing Documents
- newt-20240724.htm (8-K) — 31KB
- securitizationrelease202.htm (EX-99.1) — 12KB
- securitizationrelease202001.jpg (GRAPHIC) — 220KB
- securitizationrelease202002.jpg (GRAPHIC) — 240KB
- securitizationrelease202003.jpg (GRAPHIC) — 199KB
- securitizationrelease202004.jpg (GRAPHIC) — 115KB
- 0001587987-24-000160.txt ( ) — 1301KB
- newt-20240724.xsd (EX-101.SCH) — 4KB
- newt-20240724_def.xml (EX-101.DEF) — 17KB
- newt-20240724_lab.xml (EX-101.LAB) — 32KB
- newt-20240724_pre.xml (EX-101.PRE) — 18KB
- newt-20240724_htm.xml (XML) — 6KB
02. Results of Operations and Financial Condition
Item 2.02. Results of Operations and Financial Condition. On July 24, 2024, NewtekOne, Inc. (the "Company") issued a press release announcing that its joint venture, Newtek-TSO II Conventional Credit Partners, LP, closed a securitization backed by alternative business loans, selling $137,170,000 of Class A Notes and $17,150,000 of Class B Notes (collectively, the "Notes") issued by NALP Business Loan Trust 2024-1. The Notes are backed by $190,520,000 of collateral, consisting of $159,770,000 of Company originated alternative loan program ("ALP") loans and a $30,750,000 prefunding account to acquire additional ALP loans originated by the Company in May 2024. The Class A and Class B Notes received Morningstar DBRS ratings of "A (sf)" and "BBB (high) (sf)," respectively. A copy of the Company's July 24, 2024 press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K. The information in this Current Report shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section, and shall not be incorporated by reference into any registration statement pursuant to the Securities Act of 1933, as amended.s incorporated herein by reference.
01 Financial Statement and Exhibits
Item 9.01 Financial Statement and Exhibits (d) Exhibits. Exhibit Number Description 99.1 NewtekOne, Inc. Press Release dated July 24, 2024
SIGNATURES
SIGNATURES In accordance with the requirements of the Securities Exchange Act of 1934, the registrant has caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. NEWTEKONE, INC. Date: July 24, 2024 By: /S/ B ARRY S LOANE Barry Sloane Chief Executive Officer, President and Chairman of the Board