secwatch.observer — SEC 8-K summary
======================================

Issuer:     NewtekOne, Inc. (NEWT)
CIK:        0001587987
Form:       8-K
Filed at:   2023-01-06T23:59:59+00:00
Accession:  0001587987-23-000007
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.85
Item codes: 2.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Newtek completes acquisition of National Bank of New York City for $20M, becomes financial holding company
--------------------------------------------------------------------------------

- Acquired all shares of National Bank of New York City for $20M; bank renamed Newtek Bank, N.A.
- Contributed $31M cash and two portfolio companies (Newtek Business Lending, Small Business Lending) to the bank.
- Filed Form N-54C to withdraw election as business development company; ceases to be BDC effective Jan 6, 2023.
- Now a financial holding company regulated by Federal Reserve; will divest Excel WebSolutions and Newtek Technology Solutions within two years.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1587987/000158798723000007/0001587987-23-000007-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1587987/000158798723000007/newt-20230106.htm
  HTML page:      https://secwatch.observer/filing/0001587987-23-000007

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer