other_material
confidence high
sentiment neutral
materiality 0.60
NewtekOne to issue 2M depositary shares of 8.500% Series B Preferred Stock
NewtekOne, Inc.
- Entered underwriting agreement with KBW and Raymond James to sell 2,000,000 depositary shares.
- Each depositary share represents a 1/40th interest in a share of 8.500% Series B Preferred Stock.
- Liquidation preference of $1,000 per preferred share ($25.00 per depositary share).
- Underwriters granted option to purchase up to an additional 150,000 depositary shares.
- The preferred stock is non-cumulative, perpetual, and has a fixed-rate reset feature.
item 8.01item 9.01