NewtekOne Completes Acquisition of National Bank Holdings
Ticker: NEWTH · Form: 8-K · Filed: Nov 4, 2024 · CIK: 1587987
| Field | Detail |
|---|---|
| Company | Newtekone, Inc. (NEWTH) |
| Form Type | 8-K |
| Filed Date | Nov 4, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.02 |
| Sentiment | neutral |
Sentiment: neutral
Topics: acquisition, merger, financials
TL;DR
NewtekOne just bought National Bank Holdings, expanding its reach in banking.
AI Summary
NewtekOne, Inc. announced on November 1, 2024, that it has completed the acquisition of National Bank Holdings Corporation. The transaction, which was previously announced, involved the exchange of NewtekOne common stock for National Bank Holdings common stock. This strategic move aims to enhance NewtekOne's market position and expand its service offerings.
Why It Matters
This acquisition signifies a major expansion for NewtekOne, potentially altering its competitive landscape and service capabilities within the financial sector.
Risk Assessment
Risk Level: medium — Acquisitions carry inherent integration risks, potential for unforeseen liabilities, and market reception uncertainties.
Key Players & Entities
- NewtekOne, Inc. (company) — Acquiring company
- National Bank Holdings Corporation (company) — Acquired company
- November 1, 2024 (date) — Closing date of acquisition
FAQ
What was the effective date of the acquisition?
The acquisition was effective as of November 1, 2024.
What is the name of the acquired company?
The acquired company is National Bank Holdings Corporation.
What type of transaction was this?
This was an acquisition transaction where NewtekOne, Inc. acquired National Bank Holdings Corporation.
What was the former name of NewtekOne, Inc.?
The former name of NewtekOne, Inc. was Newtek Business Services Corp., with a date of name change on September 30, 2013.
In which state is NewtekOne, Inc. incorporated?
NewtekOne, Inc. is incorporated in Maryland (MD).
Filing Stats: 658 words · 3 min read · ~2 pages · Grade level 10.8 · Accepted 2024-11-04 08:33:51
Key Financial Figures
- $0.02 — ich registered Common Stock, par value $0.02 per share NEWT Nasdaq Global Market LLC
Filing Documents
- newt-20241101.htm (8-K) — 28KB
- 0001587987-24-000227.txt ( ) — 214KB
- newt-20241101.xsd (EX-101.SCH) — 4KB
- newt-20241101_def.xml (EX-101.DEF) — 17KB
- newt-20241101_lab.xml (EX-101.LAB) — 32KB
- newt-20241101_pre.xml (EX-101.PRE) — 18KB
- newt-20241101_htm.xml (XML) — 6KB
Forward-Looking Statements
Forward-Looking Statements
01. Other Events
Item 8.01. Other Events. On November 1, 2024, the Board of Directors of NewtekOne, Inc. (the "Company") approved a new stock repurchase program granting the Company authority to repurchase up to 1.0 million shares of Company common stock during the next twelve months. The actual timing and amount of any repurchases under the plan will be determined by the Company in its discretion, and will depend on a number of factors, including market conditions, applicable legal requirements, the Company's capital needs and whether there is a better alternative use of capital. The Company has no obligation to repurchase any amount of its common stock under its new stock repurchase program.
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: November 4, 2024 By: /S/ B ARRY S LOANE Barry Sloane Chief Executive Officer, President and Chairman of the Board