---
schema_version: "secwatch.filing_event.v1"
accession: "0001587987-25-000166"
form_type: "8-K"
ticker: "NEWT"
cik: "0001587987"
company_name: "NewtekOne, Inc."
filed_at: "2025-09-17T23:59:59+00:00"
generated_at: "2026-05-17T06:22:04.000640+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# NewtekOne issues 2.3M common shares to Patriot in exchange for preferred stock and $10M cash

## Summary
- Exchange of all 20,000 Series A Preferred shares (originally $20M) plus $10M cash for 2,307,692 common shares; two-year transfer restriction.
- Transaction boosts CET1 capital by $30M; pro forma CET1 rises from $256M to $286M as of June 30, 2025.
- Combined with August depositary shares offering ($48.357M net), pro forma tier one capital grows $78.357M to $335M; tangible book value per share ~$10.74.
- Patriot relinquishes conversion right on preferred (950,800 shares) but gains larger common stake; maintains board seat at Newtek Bank.
- Barry Sloane says capital boost and tangible book accretion outweigh EPS dilution.

## SEC filing metadata
- accession: 0001587987-25-000166
- form_type: 8-K
- ticker: NEWT
- cik: 0001587987
- company_name: NewtekOne, Inc.
- filed_at: 2025-09-17T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 3.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1587987/000158798725000166/0001587987-25-000166-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1587987/000158798725000166/newt-20250916.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001587987-25-000166
- JSON: https://secwatch.observer/filing/0001587987-25-000166.json
- Plain text: https://secwatch.observer/filing/0001587987-25-000166.txt

## Key facts
- Equity Issuances
  NewtekOne, Inc. issued 2,307,692 shares of common stock to Patriot Financial Partners IV, L.P. and Patriot Financial Partners Parallel IV, L.P. (together, "Patriot") for 20,000 outstanding shares of the Company’s Series A Convertible Preferred Stock ... and $10 million in cash.
  - Security: common stock
  - Shares: 2,307,692 shares
  - Purchaser: Patriot Financial Partners IV, L.P. and Patriot Financial Partners Parallel IV, L.P. (together, "Patriot")
  - Consideration: 20,000 outstanding shares of the Company’s Series A Convertible Preferred Stock ... and $10 million in cash
  source text: On September 16, 2025, NewtekOne, Inc., Maryland corporation (the “Company”), entered into a Securities Purchase and Exchange Agreement (the “Purchase and Exchange Agreement”) with Patriot Financial Partners IV, L.P. and Patriot Financial Partners Parallel IV, L.P. (together, “Patriot”). Pursuant to the Purchase and Exchange Agreement, Patriot and the Company agreed that in exchange (the “Exchange”) for (i) all of the 20,000 outstanding shares of the Company’s Series A Convertible Preferred Stock, par value $0.02 per share (the “Series A Preferred Stock”) originally issued to Patriot for an aggregate purchase price of $20 million (the “Original Transaction”) and (ii) $10 million in cash, the Company will issue to Patriot 2,307,692 shares (the “Shares”) of the Company’s common stock, par value $0.02 per share (“Common Stock”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1587987/000158798725000166/0001587987-25-000166-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.