NewtekOne completes sale of NTS to Paltalk for $4M cash + 4M preferred shares, plus earn-out

NewtekOne, Inc.

Sale of Newtek Technology Solutions to Paltalk closed Jan 2, 2025; consideration $4M cash and 4M shares of Paltalk non-voting preferred (convertible to common).
Potential earn-out of up to $5M based on Paltalk's cumulative adjusted EBITDA for fiscal years 2025-2026.
NewtekOne gains one board seat on Paltalk's board post-closing.
Divestiture fulfills Federal Reserve commitment after NewtekOne's acquisition of Newtek Bank and transition to financial holding company.

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