other material
confidence high
sentiment positive
materiality 0.70
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.