Core Points - NewtekOne, Inc. successfully closed an offering of 2,000,000 depositary shares representing a 1/40th interest in its 8.500% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series B, generating approximately $48.357 million in net proceeds [1][2] - The Series B Preferred Stock will pay a non-cumulative 8.500% annual cash dividend, payable quarterly starting October 1, 2025, and will reset based on the five-year US treasury rate after October 1, 2030 [1][3] - The company has applied to list the depositary shares on the Nasdaq Global Market under the ticker symbol "NEWTP" [2] Financial Impact - The issuance of the new depositary shares increases the company's tier one capital ratio from 16.1% to 19.2% and tier one capital by 19% from $256 million to $305 million [3] - The net proceeds from the offering will be used for investments, debt repayment, and general corporate purposes [2] Company Overview - NewtekOne is a financial holding company providing a wide range of business and financial solutions to independent business owners across all 50 states [4][5] - Its services include banking, business lending, electronic payment processing, insurance solutions, and technology solutions [5]