secwatch.observer — SEC 8-K summary
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Issuer:     NewtekOne, Inc. (NEWT)
CIK:        0001587987
Form:       8-K
Filed at:   2025-01-02T23:59:59+00:00
Accession:  0001587987-25-000002
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.60
Item codes: 8.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1587987/000158798725000002/0001587987-25-000002-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1587987/000158798725000002/newt-20250102.htm
  HTML page:      https://secwatch.observer/filing/0001587987-25-000002

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