NewtekOne, Inc. successfully closed an offering of 2,000,000 depositary shares representing a 1/40th interest in the Series B Preferred Stock.
The offering generated approximately $48.357 million in net proceeds for the company.
The newly issued Series B Preferred Stock will provide a non-cumulative 8.500% per annum cash dividend through October 1, 2030.
Offering Details
2,000,000 depositary shares representing Series B Preferred Stock were offered, generating $48.357 million in net proceeds.
Dividend Information
Series B Preferred Stock pays an 8.500% per annum cash dividend, payable quarterly through October 1, 2030.
Listing Application
Company applied to list the Depositary Shares on Nasdaq Global Market® under the ticker symbol 'NEWTP'.
- The offering provides NewtekOne with additional preferred equity to strengthen its capital position and deleverage its balance sheet.
- This strategic move enhances the company's tier one capital ratio and positions it for future growth and financial stability.
NewtekOne's successful offering of depositary shares for its Series B Preferred Stock signifies a strategic step towards strengthening its capital structure and fueling growth initiatives. The company's focus on leveraging preferred equity highlights a proactive approach to financial management.