secwatch.observer — SEC 8-K summary
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Issuer:     NewtekOne, Inc. (NEWT)
CIK:        0001587987
Form:       8-K
Filed at:   2025-09-17T23:59:59+00:00
Accession:  0001587987-25-000166
Event type: other_material
Sentiment:  positive
Materiality: 0.75
Item codes: 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1587987/000158798725000166/0001587987-25-000166-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1587987/000158798725000166/newt-20250916.htm
  HTML page:      https://secwatch.observer/filing/0001587987-25-000166

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer