NewtekOne, Inc. successfully closed an offering of 2,000,000 depositary shares, generating approximately $48.357 million in net proceeds. The newly issued Series B Preferred Stock will pay a non-cumulative 8.500% per annum cash dividend through October 1, 2030. The Company intends to use the net proceeds to fund investments, repay existing debt, and for general corporate purposes. NewtekOne plans to list the Depositary Shares on the Nasdaq Global Market under the ticker symbol “NEWTP.” The newly issued shares will increase the company’s tier one capital ratio and position it to deleverage its balance sheet.

NewtekOne, Inc., a financial holding company, provides various business and financial solutions to independent business owners. Since 1999, NewtekOne has offered state-of-the-art products and services to help business owners grow sales, control expenses, and reduce risk. Their solutions include banking, business lending, SBA lending, electronic payment processing, insurance solutions, and payroll and benefits solutions. NewtekOne also offers technology solutions provided by Intelligent Protection Management Corp.

Forward-looking statements in the press release are based on the current beliefs and expectations of NewtekOne’s management. Actual results may differ, and readers are encouraged to review the company’s filings with the Securities and Exchange Commission for more information. NewtekOne does not undertake to update forward-looking statements to reflect the impact of future circumstances or events.

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