NewtekOne Files 8-K Detailing Debt Instruments

TL;DR

NewtekOne dropped an 8-K detailing its various notes due in 2026, 2028, and 2029.

AI Summary

NewtekOne, Inc. filed an 8-K on September 16, 2024, reporting "Other Events" and "Financial Statements and Exhibits." The filing details various debt instruments, including "FivePointFiveZeroPercentNotesDue2026," "EightPointZeroPercentNotesDue2028," "EightPointFivePercentNotesDue2029," and "EightPointSixTwoFivePercentNotesDue2029." The company, formerly known as Newtek Business Services Corp., is incorporated in Maryland and headquartered in Boca Raton, Florida.

Why It Matters

This filing provides investors with an update on NewtekOne's outstanding debt obligations, which are crucial for understanding the company's financial structure and leverage.

Risk Assessment

Risk Level: medium — The filing primarily concerns debt instruments, which can indicate financial leverage and potential repayment risks for the company.

Key Players & Entities

• NewtekOne, Inc. (company) — Filer
• Newtek Business Services Corp. (company) — Former Company Name
• FivePointFiveZeroPercentNotesDue2026 (dollar_amount) — Debt Instrument
• EightPointZeroPercentNotesDue2028 (dollar_amount) — Debt Instrument
• EightPointFivePercentNotesDue2029 (dollar_amount) — Debt Instrument
• EightPointSixTwoFivePercentNotesDue2029 (dollar_amount) — Debt Instrument

FAQ

Key Financial Figures

• $0.02 — ich registered Common Stock, par value $0.02 per share NEWT Nasdaq Global Market LLC
• $75,000,000 — ny") completed a registered offering of $75,000,000 aggregate principal amount of its 8.625
• $11,250,000 — writers to purchase up to an additional $11,250,000 aggregate principal amount of the Notes
• $72,750,000 — ount of the Notes. The Company received $72,750,000 in proceeds, before expenses, from the

Filing Documents

• newt-20240916.htm (8-K) — 34KB
• newtsept2024offering-ex5.htm (EX-5.1) — 10KB
• newtsept2024offering-ex5001.jpg (GRAPHIC) — 226KB
• newtsept2024offering-ex5002.jpg (GRAPHIC) — 254KB
• newtsept2024offering-ex5003.jpg (GRAPHIC) — 80KB
• 0001587987-24-000191.txt ( ) — 1008KB
• newt-20240916.xsd (EX-101.SCH) — 4KB
• newt-20240916_def.xml (EX-101.DEF) — 17KB
• newt-20240916_lab.xml (EX-101.LAB) — 32KB
• newt-20240916_pre.xml (EX-101.PRE) — 18KB
• newt-20240916_htm.xml (XML) — 6KB

01. Other Events

Item 8.01. Other Events On September 16, 2024, NewtekOne, Inc. (the "Company") completed a registered offering of $75,000,000 aggregate principal amount of its 8.625% Fixed Rate Senior Notes due 2029 (the "Notes"). The offering was consummated pursuant to the terms of the underwriting agreement (the "Underwriting Agreement") with Morgan Stanley & Co. LLC, Keefe, Bruyette & Woods, Inc., Raymond James & Associates, Inc. and UBS Securities LLC, as representatives of the several underwriters named in Exhibit A thereto (the "Underwriters"). In addition, pursuant to the Underwriting Agreement, the Company granted an option to the Underwriters to purchase up to an additional $11,250,000 aggregate principal amount of the Notes. The Company received $72,750,000 in proceeds, before expenses, from the sale of the Notes. The Company intends to use the net proceeds from the sale of the Notes for funding of investments, repayment of existing debt and general corporate purposes. The Notes were offered and sold pursuant to the Company's registration statement on Form S-3 (Registration No. 333-269452) filed with the Securities and Exchange Commission (the "SEC") and became effective on July 27, 2023, and a supplement to the Prospectus dated September 9, 2024. The Notes were issued pursuant a senior debt securities indenture, dated as of August 31, 2023 (the "Base Indenture"), as supplemented by a third supplemental indenture, dated as of September 16, 2024 (the "Third Supplemental Indenture," and together with the Base Indenture, the "Indenture"), between the Company and U.S. Bank Trust Company, National Association, as trustee. The terms of the Notes are governed by the Indenture. The Third Supplemental Indenture, which includes the form of the Notes, is included as Exhibit 4.1 hereto and is incorporated herein by reference. The description of the Notes contained in this Form 8-K is qualified in its entirety by reference to the foregoing.

01 Financial Statement and Exhibits

Item 9.01 Financial Statement and Exhibits (d) Exhibits. Exhibit Number Description 4.1 Third Supplemental Indenture, dated as of September 16, 2024, between NewtekOne, Inc. and U.S. Bank Trust Company, National Association, as trustee (incorporated by reference to Exhibit 4.4 to NewtekOne's Registration Statement on Form 8-A filed on September 16, 2024). 4.2 Form of 8.625% Fixed Rate Senior Notes due 2029 (included in Exhibit 4.1). 5.1 Opinion of Michael A. Schwartz, Chief Legal Officer and Corporate Secretary of NewtekOne, Inc. 23.1 Consent of Michael A. Schwartz (included in Exhibit 5.1).

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: September 16, 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