NewtekOne, Inc. Announces Exchange Offer for 5.50% Notes Due 2026 for New 8.50% Senior Notes Due 2031

NewtekOne offers exchange of 5.50% Notes for 8.50% New Notes, maturing in 2031, through January 9, 2026.

Quiver AI Summary

NewtekOne, Inc. announced an Exchange Offer to convert its outstanding 5.50% Notes due 2026 into new 8.50% Fixed Rate Senior Notes due 2031. As of December 1, 2025, there were $95 million of the Old Notes outstanding, and the Exchange Offer will allow holders to exchange these for an equal principal amount of New Notes, along with cash for any accrued interest. The New Notes will be listed on Nasdaq and will mature on February 1, 2031, with interest payable quarterly. The Exchange Offer expires on January 9, 2026, and is contingent upon at least 10% of the Old Notes being tendered. NewtekOne aims for this offer to provide current holders a continued investment opportunity as the maturity date for the Old Notes approaches.

Potential Positives

The company is offering an exchange that increases its interest rate from 5.50% to 8.50%, which may enhance attractiveness to investors and provide better returns.
The issuance of the New Notes extends the maturity to February 1, 2031, allowing the company additional time to manage debt and improve financial stability.
The Exchange Offer is structured to give existing holders a seamless option to exchange their notes without experiencing a break in investment, fostering trust and loyalty among current investors.
NewtekOne plans to list the New Notes on Nasdaq, which could increase their visibility and liquidity, potentially attracting new investors.

Potential Negatives

The company's decision to exchange lower interest Old Notes for higher interest New Notes may signal financial distress, as it could suggest difficulty in meeting existing debt obligations.
There is a condition that at least 10% of the Old Notes must be tendered for the offer to proceed, which could lead to uncertainty about the acceptance and completion of the exchange.
Holders of the Old Notes are required to carefully read the prospectus due to significant differences in the terms and rights of the New Notes, indicating potential downsides for existing investors.

FAQ

What is the NewtekOne Exchange Offer?

NewtekOne's Exchange Offer allows holders of 5.50% Notes due 2026 to exchange them for newly issued 8.50% Notes due 2031.

When does the Exchange Offer expire?

The Exchange Offer will expire at 5:00 p.m. New York City time on January 9, 2026.

What are the benefits of exchanging Old Notes for New Notes?

Exchanging Old Notes provides holders an opportunity to continue holding NewtekOne senior notes with a higher interest rate of 8.50%.

Who is the Exchange Agent for the Exchange Offer?

U.S. Bank Trust Company, National Association is serving as the Exchange Agent for NewtekOne's Exchange Offer.

How can holders of Old Notes obtain more information?

Holders can contact the Information Agent, Alliance Advisors, for assistance, additional copies of the prospectus, or questions regarding the Exchange Offer.

Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.

$NEWT Insider Trading Activity

$NEWT insiders have traded $NEWT stock on the open market 10 times in the past 6 months. Of those trades, 10 have been purchases and 0 have been sales.

Here’s a breakdown of recent trading of $NEWT stock by insiders over the last 6 months:

BARRY SLOANE (Chairman & CEO) has made 7 purchases buying 12,000 shares for an estimated $122,954 and 0 sales.
RICHARD J SALUTE has made 2 purchases buying 2,100 shares for an estimated $23,610 and 0 sales.
GREGORY L ZINK purchased 1,000 shares for an estimated $10,430

To track insider transactions, check out Quiver Quantitative's insider trading dashboard.

$NEWT Hedge Fund Activity

We have seen 65 institutional investors add shares of $NEWT stock to their portfolio, and 78 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

NORTH REEF CAPITAL MANAGEMENT LP added 386,924 shares (+inf%) to their portfolio in Q3 2025, for an estimated $4,430,279
AQR CAPITAL MANAGEMENT LLC added 221,125 shares (+62.1%) to their portfolio in Q3 2025, for an estimated $2,531,881
UBS GROUP AG removed 159,172 shares (-77.6%) from their portfolio in Q3 2025, for an estimated $1,822,519
TWO SIGMA INVESTMENTS, LP added 115,374 shares (+106.6%) to their portfolio in Q3 2025, for an estimated $1,321,032
CITADEL ADVISORS LLC removed 103,506 shares (-47.5%) from their portfolio in Q3 2025, for an estimated $1,185,143
WELLINGTON MANAGEMENT GROUP LLP removed 98,676 shares (-100.0%) from their portfolio in Q2 2025, for an estimated $1,113,065
PRUDENTIAL FINANCIAL INC added 98,479 shares (+134.8%) to their portfolio in Q3 2025, for an estimated $1,127,584

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.

$NEWT Price Targets

Multiple analysts have issued price targets for $NEWT recently. We have seen 2 analysts offer price targets for $NEWT in the last 6 months, with a median target of $12.5.

Here are some recent targets:

Timothy Switzer from Keefe, Bruyette & Woods set a target price of $13.0 on 09/19/2025
Crispin Love from Piper Sandler set a target price of $12.0 on 07/29/2025

Full Release

BOCA RATON, Fla., Dec. 01, 2025 (GLOBE NEWSWIRE) -- NewtekOne, Inc. (“NewtekOne” or “Company”) (NASDAQ: NEWT) today announced the commencement of an offer to exchange (the “Exchange Offer”) any and all of its outstanding 5.50% Notes due 2026 (the “Old Notes”) for an equal principal amount of newly issued 8.50% Fixed Rate Senior Notes due 2031 (the “New Notes”). The Exchange Offer is being made pursuant to a registration statement on Form S-4 filed with the Securities and Exchange Commission (the “SEC”).

As of December 1, 2025, $95.0 million aggregate principal amount of the Old Notes was outstanding. Each $25 principal amount of Old Notes validly tendered and not validly withdrawn will be exchanged for $25 principal amount of New Notes. Holders whose Old Notes are accepted for exchange will also receive a cash payment for accrued and unpaid interest on such Old Notes to, but not including, the Settlement Date (as defined below).

The New Notes will mature on February 1, 2031 and bear interest at 8.50% per annum, payable quarterly on February 1, May 1, August 1 and November 1 of each year, beginning February 1, 2026. The New Notes will be the senior unsecured obligations of NewtekOne. NewtekOne intends to list the New Notes on Nasdaq within 30 days of the Settlement Date under the trading symbol “NEWTO.”

The Exchange Offer will expire at 5:00 p.m., New York City time, on January 9, 2026, unless extended or earlier terminated (the “Expiration Date”). The New Notes will be issued promptly after the Expiration Date and acceptance of the Old Notes (the “Settlement Date”). Holders may withdraw tenders of Old Notes at any time prior to the Expiration Date.

Consummation of the Exchange Offer is conditioned upon the satisfaction or waiver of certain conditions, including that at least 10% of the aggregate principal amount of Old Notes be validly tendered and not validly withdrawn. The Company may, in its sole discretion, waive any condition to the Exchange Offer, other than the effectiveness of the registration statement.

The purpose of the Exchange Offer is to provide existing holders of the Old Notes, which mature on February 1, 2026, with an opportunity to continue holding NewtekOne senior notes following the approaching maturity of the Old Notes. It is expected that Old Notes not exchanged will be repaid by the Company on the February 1, 2026 maturity date.

Exchange Agent, Information Agent and Dealer Manager

U.S. Bank Trust Company, National Association is serving as the Exchange Agent for the Exchange Offer. Alliance Advisors is serving as Information Agent for the Exchange Offer. Lucid Capital Markets, LLC is serving as the Dealer Manager for the Exchange Offer.

Requests for assistance, additional copies of the prospectus or the letter of transmittal, or questions regarding the procedures for tendering Old Notes should be directed to the Information Agent or the Exchange Agent using the contact information provided in the prospectus.

Important Information

This press release is for informational purposes only and is neither an offer to buy or sell nor a solicitation of an offer to buy or sell any Old Notes or New Notes. The Exchange Offer is being made only pursuant to the Exchange Offer prospectus, which is being distributed to holders of the Old Notes and has been filed with the SEC as part of the Company’s Registration Statement on Form S-4 (File No. 333-291615), which was declared effective on November 28, 2025. The Exchange Offer

Copies of the prospectus and the other Exchange Offer documents may be obtained from the Information Agent:

Alliance Advisors
The Overlook Corporate Center
150 Clove Road Suite 400
Little Falls Township, NJ 07424
Attn: Tyler Herka
Telephone: 1-855-206-1406
Email: [email protected]

Holders of Old Notes should read the prospectus and related documents carefully before making any decision regarding the Exchange Offer as it contains important information about the Exchange Offer, the Old Notes and the New Notes, including certain material differences in the terms and the rights of holders of the Old Notes as compared to the New Notes.

About NewtekOne, Inc.

NewtekOne ^® , Your Business Solutions Company ^® , is a financial holding company, which along with its bank and non-bank consolidated subsidiaries (collectively, “NewtekOne”), provides a wide range of business and financial solutions under the Newtek ^® brand to independent business owners. Since 1999, NewtekOne has provided state-of-the-art, cost-efficient products and services and efficient business strategies to independent business owners across all 50 states to help them grow their sales, control their expenses, and reduce their risk.

NewtekOne’s and its subsidiaries’ business and financial solutions include: banking (Newtek Bank, N.A.), Business Lending, SBA Lending Solutions, Electronic Payment Processing, Accounts Receivable Financing & Inventory Financing, Insurance Solutions and Payroll and Benefits Solutions . In addition, NewtekOne offers its clients the Technology Solutions (Cloud Computing, Data Backup, Storage and Retrieval, IT Consulting and Web Services) provided by Intelligent Protection Management Corp. (IPM.com)

Newtek ^® , NewtekOne ^® , Newtek Bank ^® , National Association , Your Business Solutions Company ^® , One Solution for All Your Business Needs ^® and Newtek Advantage ^® are registered trademarks of NewtekOne, Inc.

Note Regarding Forward-Looking Statements
Certain statements in this press release are “forward-looking statements” within the meaning of the rules and regulations of the Private Securities Litigation and Reform Act of 1995 are based on the current beliefs and expectations of NewtekOne's management and are subject to significant risks and uncertainties. Actual results may differ materially from those set forth in the forward-looking statements. See “Note Regarding Forward-Looking Statements” and the sections entitled “Risk Factors” in our filings with the Securities and Exchange Commission which are available on NewtekOne's website (https://investor.newtekbusinessservices.com/sec-filings) and on the Securities and Exchange Commission’s website (www.sec.gov). Any forward-looking statements made by or on behalf of NewtekOne speak only as to the date they are made, and NewtekOne does not undertake to update forward-looking statements to reflect the impact of circumstances or events that arise after the date the forward-looking statements were made.

SOURCE: NewtekOne, Inc.

Investor Relations & Public Relations
Contact: Bryce Rowe
Telephone: (212) 273-8292 / [email protected]