NewtekOne Files 8-K on Debt Notes

TL;DR

NewtekOne dropped an 8-K detailing its 5.5%, 8.0%, and 8.5% notes due in 2026, 2028, and 2029.

AI Summary

NewtekOne, Inc. filed an 8-K on August 12, 2024, reporting on various financial instruments. The filing specifically mentions "FivePointFiveZeroPercentNotesDue2026", "EightPointZeroPercentNotesDue2028", and "EightPointFivePercentNotesDue2029", indicating ongoing debt obligations and their respective interest rates and maturity dates.

Why It Matters

This filing provides transparency on NewtekOne's outstanding debt, offering insight into its capital structure and future financial obligations.

Risk Assessment

Risk Level: low — The filing is a routine disclosure of existing financial instruments and does not indicate new or unexpected risks.

Key Numbers

• 5.50% — Interest Rate (Rate for notes due 2026)
• 8.0% — Interest Rate (Rate for notes due 2028)
• 8.5% — Interest Rate (Rate for notes due 2029)
• 2026 — Maturity Year (Year for 5.50% notes)
• 2028 — Maturity Year (Year for 8.0% notes)
• 2029 — Maturity Year (Year for 8.5% notes)

Key Players & Entities

• NewtekOne, Inc. (company) — Filer of the 8-K report
• FivePointFiveZeroPercentNotesDue2026 (dollar_amount) — Debt instrument with a 5.50% interest rate maturing in 2026
• EightPointZeroPercentNotesDue2028 (dollar_amount) — Debt instrument with an 8.0% interest rate maturing in 2028
• EightPointFivePercentNotesDue2029 (dollar_amount) — Debt instrument with an 8.5% interest rate maturing in 2029

FAQ

Key Financial Figures

• $0.02 — ich registered Common Stock, par value $0.02 per share NEWT Nasdaq Global Market LLC
• $4,000,000 — ny, at the closing of the NTS Sale, (i) $4,000,000 in cash, subject to certain purchase pr
• $5,000,000 — to receive an earn-out amount of up to $5,000,000, payable in cash or Preferred Stock (or

Filing Documents

• newt-20240812.htm (8-K) — 33KB
• newtekprntsdivestiture.htm (EX-99.1) — 9KB
• newtekprntsdivestiture001.jpg (GRAPHIC) — 241KB
• newtekprntsdivestiture002.jpg (GRAPHIC) — 308KB
• newtekprntsdivestiture003.jpg (GRAPHIC) — 33KB
• 0001587987-24-000170.txt ( ) — 1030KB
• newt-20240812.xsd (EX-101.SCH) — 3KB
• newt-20240812_def.xml (EX-101.DEF) — 17KB
• newt-20240812_lab.xml (EX-101.LAB) — 31KB
• newt-20240812_pre.xml (EX-101.PRE) — 17KB
• newt-20240812_htm.xml (XML) — 6KB

Forward-Looking Statements

Forward-Looking Statements

01. Other Events

Item 8.01. Other Events On August 11, 2024, the Company entered into a definitive agreement (the "Agreement") to sell its wholly owned subsidiary Newtek Technology Solutions, Inc. ("NTS") to Paltalk, Inc. ("Paltalk") (Nasdaq: PALT) (the "NTS Sale"). As previously disclosed, in connection with the Company's acquisition of Newtek Bank, N.A. and transition to a financial holding company, the Company made a commitment to the Board of Governors of the Federal Reserve System to divest or terminate the activities of NTS. Pursuant to the Agreement, Paltalk has agreed to pay to the Company, at the closing of the NTS Sale, (i) $4,000,000 in cash, subject to certain purchase price adjustments (the "Cash Consideration") and (ii) issue to the Company 4,000,000 shares of a newly created series of Paltalk non-voting preferred stock, the Series A Non-Voting Common Equivalent Stock (the "Preferred Stock") (the "Stock Consideration," and together with the Cash Consideration, the "Closing Consideration"). Upon the occurrence of certain specified transfers of the Preferred Stock, each share of Preferred Stock will automatically convert into one share of common stock of Paltalk, subject to certain anti-dilution adjustments. In addition to the Closing Consideration, the Company may be entitled to receive an earn-out amount of up to $5,000,000, payable in cash or Preferred Stock (or a combination thereof, determined in Paltalk's discretion), based on the achievement of certain cumulative average Adjusted EBITDA thresholds for the 2025 and 2026 fiscal years. The issuance of Preferred Stock to the Company as Stock Consideration or as consideration for the earn-out, if any, will be subject to the limitation that any such issuance of Preferred Stock may not result in the Company's equity interest in Paltalk exceeding one third of Paltalk's "total equity," determined in accordance with the Bank Holding Company Act of 1956, as amended, and to the extent necessary a corresponding increase in

01 Financial Statement and Exhibits

Item 9.01 Financial Statement and Exhibits (d) Exhibits. Exhibit Number Description 99.1 NewtekOne, Inc. Press Release Dated August 12, 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: August 12, 2024 By: /S/ B ARRY S LOANE Barry Sloane Chief Executive Officer, President and Chairman of the Board

View Full Filing

View this 8-K filing on SEC EDGAR