Company: NEWTP
Filing Date: 2025-08-13
Form Type: 424B2
Source: 0001587987-25-000144
Chunk: 14

Company: NewtekOne, Inc.
Filing Date: 2025-08-13
Form: 424B2
Chunk 14
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 the Preferred Stock, and therefore the holders of the depositary shares, will not be entitled to receive a dividend for such period, and such undeclared dividend will not accrue and be payable. The Company will have no obligation to pay dividends for such dividend period, whether or not dividends are authorized and declared for any subsequent dividend period with respect to the Preferred Stock. The Board may determine that it would be in the Company’s best interests to pay less than the full amount of the stated dividends on the Preferred Stock or no dividend for any dividend period even if funds are available. Factors that would be considered by the Board in making this determination include the Company’s financial condition and capital needs, the impact of current and pending legislation and regulations, economic conditions, tax considerations and such other factors as the Board may deem relevant.

Unlike indebtedness, where principal and interest would customarily be payable on specified due dates, in the case of preferred stock like the Preferred Stock (1) dividends are payable only when, as and if authorized and declared by the Board or a duly authorized committee of the Board and (2) as a Maryland corporation, the Company is subject to restrictions on payments of dividends out of lawfully available funds.

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Investors should not expect the Company to redeem the Preferred Stock on the date it becomes redeemable or on any particular date after it becomes redeemable.

The Preferred Stock is a perpetual equity security. This means that the Preferred Stock has no maturity or mandatory redemption date and is not redeemable at the option of investors. By their terms, shares of the Preferred Stock may be redeemed by the Company, at the Company’s option, either (i) in whole or in part, at any time, on any dividend payment date on or after the First Reset Date, or (ii) in whole but not in part, at any time within 90 days following a “regulatory capital treatment event,” as described below under “Description of Preferred Stock - Redemption Following a Regulatory Capital Treatment Event.” Any decision the Company may make at any time to propose a redemption of the Preferred Stock will depend upon, among other things, the Company’s evaluation of the Company’s capital position, including for capital ratio purposes, the composition of the Company’s shareholders’ equity and general market conditions at that time.

In addition, the Company’s right to redeem the Preferred Stock is subject to limitations established by the Federal Reserve’s rules and regulations applicable to bank holding companies, and under current such rules and regulations the Company would need