NewtekOne, Inc. Commences Exchange Offer for 2026 Notes

Core Viewpoint - NewtekOne, Inc. is initiating an Exchange Offer to exchange its outstanding 5.50% Notes due 2026 for newly issued 8.50% Fixed Rate Senior Notes due 2031, aiming to provide existing holders with an opportunity to continue their investment in the company's senior notes [1][5]. Group 1: Exchange Offer Details - The Exchange Offer involves exchanging $95.0 million aggregate principal amount of Old Notes for an equal principal amount of New Notes, with each $25 principal amount of Old Notes exchanged for $25 principal amount of New Notes [2]. - The New Notes will mature on February 1, 2031, and will bear an interest rate of 8.50% per annum, payable quarterly starting February 1, 2026 [3]. - The Exchange Offer will expire at 5:00 p.m. New York City time on January 9, 2026, unless extended or terminated earlier [3]. Group 2: Conditions and Purpose - The consummation of the Exchange Offer is contingent upon at least 10% of the aggregate principal amount of Old Notes being validly tendered and not withdrawn [4]. - The purpose of the Exchange Offer is to allow holders of the Old Notes, which mature on February 1, 2026, to continue holding NewtekOne senior notes [5]. Group 3: Company Overview - NewtekOne, Inc. is a financial holding company that provides a wide range of business and financial solutions to independent business owners across the United States [11]. - The company's services include banking, business lending, electronic payment processing, and technology solutions, among others [12].