NewtekOne Reports on Debt Obligations

TL;DR

NewtekOne's got notes due in '26, '28, and '29 – check the rates!

AI Summary

NewtekOne, Inc. filed an 8-K on January 2, 2025, reporting on its outstanding debt obligations. The filing details several series of notes, including 5.50% notes due 2026, 8.0% notes due 2028, 8.5% notes due 2029, and 8.625% notes due 2029, indicating ongoing financial management and reporting of its debt structure.

Why It Matters

This filing provides transparency into NewtekOne's debt maturity profile, which is crucial for investors assessing the company's financial health and future borrowing capacity.

Risk Assessment

Risk Level: low — This is a routine filing providing information on existing debt, not indicating new risks or significant changes.

Key Players & Entities

• NewtekOne, Inc. (company) — Filer
• 5.50% Notes Due 2026 (dollar_amount) — Debt Obligation
• 8.0% Notes Due 2028 (dollar_amount) — Debt Obligation
• 8.5% Notes Due 2029 (dollar_amount) — Debt Obligation
• 8.625% Notes Due 2029 (dollar_amount) — Debt Obligation

FAQ

Key Financial Figures

• $0.02 — ich registered Common Stock, par value $0.02 per share NEWT Nasdaq Global Market LLC
• $4,000,000 — ltalk acquired NTS for a combination of $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, Preferred Stock, or a

Filing Documents

• newt-20250102.htm (8-K) — 30KB
• 0001587987-25-000002.txt ( ) — 215KB
• newt-20250102.xsd (EX-101.SCH) — 4KB
• newt-20250102_def.xml (EX-101.DEF) — 17KB
• newt-20250102_lab.xml (EX-101.LAB) — 32KB
• newt-20250102_pre.xml (EX-101.PRE) — 18KB
• newt-20250102_htm.xml (XML) — 6KB

Forward-Looking Statements

Forward-Looking Statements

01. Other Events

Item 8.01. Other Events On January 2, 2025, the Company completed the previously announced sale of its wholly owned subsidiary Newtek Technology Solutions, Inc. ("NTS") to Paltalk, Inc. ("Paltalk") (the "NTS Sale"), pursuant to the Agreement and Plan of Merger (the "Agreement"), dated as of August 11, 2024, by and among Paltalk, PALT Merger Sub 1, Inc., PALT Merger Sub 2, LLC, NTS and the Company. As previously disclosed, in connection with the Company's acquisition of Newtek Bank 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. Under the terms of the Agreement, at the closing of the NTS Sale, Paltalk acquired NTS for a combination of $4,000,000 in cash, subject to certain purchase price adjustments (the "Cash Consideration"), and 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, Preferred Stock, or a combination thereof (as determined in Paltalk's discretion), based on Paltalk's achievement of certain cumulative average Adjusted EBITDA thresholds for the 2025 and 2026 fiscal years. Pursuant to the Agreement, following the closing of the NTS Sale, the Company is entitled to appoint one representative to the Paltalk board of directors.

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: January 2, 2025 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