Company: NEWTP
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001628280-25-050582
Chunk: 30

Company: NewtekOne, Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 1
Chunk 30
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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. The Company is entitled to appoint one representative to the IPM board of directors. Barry Sloane, the Company’s President, Chairman and Chief Executive Officer serves on the IPM board of directors as the Company’s representative. The Company has accounted for its investment in IPM under ASC 321 beginning in the first quarter of 2025 and as such management measured the equity investment at fair value and the carrying amount will be remeasured at each reporting period with changes in fair value recorded in earnings. In addition, the assets, liabilities and operations of NTS were classified as held for sale as of December 31, 2024.

F-28

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 nine months ended September 30, 2025 and 2024 were as follows:CompanyFair Value at December 31, 2024Purchases (Cost)Return of InvestmentNet Gains/(Losses)Fair Value at September 30, 2025Dividend IncomeJoint VenturesNCL JV$18,800 $15,835 $(31,843)3$(2,792)$— $861 TSO JV38,100 — — 1,650 39,750 1,850 Total Joint Ventures$56,900 $15,835 $(31,843)$(1,142)$39,750 $2,711 Other Non-Control InvestmentsEMCAP Loan Holdings, LLC$320 $— $(14)$— $306 $— Biller Genie Software, LLC458 — — 1,042 1,500 — Intelligent Protection Management Corp.IPM Earnout— 2,268 1— (394)1,874 — IPM Stock$— 8,200 2— (240)27,960 — Total Other Non-Control Investments$778 $10,468 $(14)$408 $11,640 $— Total$57,678 $26,303 $(31,857)$(734)$51,390 $2,711 1