Company: NEWTP
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001587987-25-000084
Chunk: 95

Company: NewtekOne, Inc.
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 1
Chunk 95
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 notes payable$121,082 $140,224 Dividends Payable2,500 — Other liabilities359 427 Total liabilities123,941 140,651 Net assets77,486 67,724 Total net assets$201,427 $208,375 

F-19

Selected Statements of Operations Information (Unaudited)Three Months Ended March 31,20252024Interest and other income$5,298 $2,343 Total expenses2,673 1,464 Net investment income2,625 879 Unrealized appreciation on investments9,637 872 Realized gain on derivative transactions— 265 Unrealized gain on derivative transactions— 574 Net increase in net assets resulting from operations$12,262 $2,590 

Intelligent Protection Management Corp.: In connection with the NTS Sale (See NOTE 1—DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION; Sale of NTS), the Company received the Closing Consideration consisting of the $4.0 million Cash Consideration and 4.0 million shares of IPM Preferred Stock. Upon the occurrence of certain specified transfers of the IPM Preferred Stock, each share of IPM Preferred Stock will automatically convert into one share of common stock of IPM, subject to certain anti-dilution adjustments. In addition to the Closing Consideration, the Company may be entitled to receive the Earn-out in an amount of up to $5.0 million, payable in cash, IPM Preferred Stock, or a combination thereof (as determined in IPM’s discretion), based on IPM’s achievement of certain cumulative average Adjusted EBITDA thresholds for the 2025 and 2026 fiscal years. 

Investments in Affiliated CompaniesAn affiliated company is an unconsolidated entity in which the Company has an ownership of 5% or more of its voting securities. Investments related to our joint ventures and other non-controlled investments for the three months ended March 31, 2025 and 2024 were as follows:CompanyFair Value at December 31, 2024Purchases (Cost)Return of InvestmentNet Gains/(Losses)Fair Value at March 31, 2025Dividend IncomeJoint VenturesNCL JV$18,800 $— $— $200 $19,000 $1,249 TSO JV38,100 — — 1,900