Company: NEWTP
Filing Date: 2025-11-18
Form Type: S-4
Source: 0001628280-25-052855
Chunk: 57

Company: NewtekOne, Inc.
Filing Date: 2025-11-18
Form: S-4
Chunk 57
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” below. If either the Old Notes or New Notes were not treated as securities, the exchange of such Old Notes for New Notes. would be treated as described below under “—Treatment as a Taxable Exchange” below.

Treatment as a Recapitalization . If the exchange of Old Notes for New Notes is treated as a recapitalization, except as discussed below under “Accrued Interest”, you will not recognize gain or loss on the exchange and you will have a tax basis in your New Notes equal to your adjusted tax basis in Old Notes immediately prior to the exchange. Your holding period for your New Notes generally would include the period during which you held Old Notes. The adjusted tax basis of Old Notes exchanged will generally equal your initial tax basis in Old Notes, increased by any market discount previously included in income with respect to such Old Notes and decreased (but not below zero) by any bond premium that you have amortized with respect to such Old Notes. If you hold Old Notes with differing tax bases and/or holding periods, the preceding rules must be applied separately to each identifiable block of Old Notes.

EACH HOLDER SHOULD CONSULT ITS OWN TAX ADVISOR AS TO WHETHER THE EXCHANGE WILL CONSTITUTE A RECAPITALIZATION FOR U.S. FEDERAL INCOME TAX PURPOSES.

Treatment as a Taxable Exchange . If Old Notes or New Notes are not treated as securities for tax purposes, then you would generally recognize gain or loss on the exchange of Old Notes for New Notes in an amount equal to the difference between the issue price of New Notes you receive in the exchange (determined in the manner described below) and your adjusted tax basis in Old Notes (determined in the manner described above under “—Treatment as a Recapitalization”). Subject to the discussion below regarding accrued market discount, gain or loss

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that you recognize in the exchange generally will be capital gain or loss, and will be long-term capital gain or loss if you held the Old Notes for more than one year prior to the date of the exchange. Long-term capital gain of non-corporate U.S. Holders is generally taxed at preferential rates. The deductibility of capital losses is subject to limitations.

Because the outstanding principal amount of Old Notes (immediately prior to the exchange) and the outstanding principal amount of New Notes (immediately after the exchange) will both be less than $100 million, neither Old Notes nor New Notes will be treated as “publicly traded” for U.S.