Company: NEWTP
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001587987-25-000084
Chunk: 208

Company: NewtekOne, Inc.
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 8
Chunk 208
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 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 40,000 437 Total Joint Ventures$56,900 $— $— $2,100 $59,000 $1,686 Other Non-Control InvestmentsEMCAP Loan Holdings, LLC$320 $— $(14)$— $306 $— Biller Genie Software, LLC458 — — 250 708 — Intelligent Protection Management Corp.— 10,468 1— (1,240)9,228 — Total Other Non-Control Investments$778 $10,468 $(14)$(990)$10,242 $— Total$57,678