NewtekOne closes $48.4M preferred stock offering; tier one capital ratio to 19.2%

NewtekOne, Inc.

Closed offering of 2M depositary shares representing Series B 8.5% preferred stock; net proceeds ~$48.4M.
Underwriters have 30-day option for up to 150,000 additional depositary shares.
Pro forma tier one capital ratio rises from 16.1% to 19.2%; tier one capital up 19% to $305M.
Proceeds to fund investments, repay debt, and for general corporate purposes.
Applied to list on Nasdaq under symbol NEWTP.

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