Company: NEWTP
Filing Date: 2025-11-18
Form Type: S-4
Source: 0001628280-25-052855
Chunk: 44

Company: NewtekOne, Inc.
Filing Date: 2025-11-18
Form: S-4
Chunk 44
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 market or by private agreement.

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### COMPARISON OF RIGHTS OF SECURITYHOLDERS
The terms of the Old Notes and New Notes contain certain differences that affect your rights as a holder. The Old Notes contain certain restrictions and covenants related to the Company’s former status as a BDC, whereas the New Notes contain certain restrictions and covenants related to its status as a financial holding company. The following is a summary comparison of select material terms of the Old Notes and the New Notes that differ. The New Notes will be issued under the Base Indenture, as supplemented by the Fourth Supplemental Indenture (solely for purposes of this section, the Indenture is referred to as the “New Notes Indenture”). The Old Notes were issued under a base indenture, dated as of September 23, 2015, between the Company and the Trustee, as supplemented by the seventh supplemental indenture between the Company and the Trustee in respect of the Old Notes (the “Old Notes Indenture”). This summary does not purport to be complete and is qualified in its entirety by reference to the Old Notes Indenture and the Indenture, respectively. Copies of those indentures are filed as exhibits to the registration statement of which this prospectus forms a part and are also available from the Information Agent upon request.

The Old Notes represent, as of the date of this prospectus, the only debt securities issued and currently outstanding under the Old Notes Indenture.

Terms used in the comparison of the Old Notes and the New Notes below and not otherwise defined in this prospectus have the meanings given to those terms in the Old Notes Indenture and the Indenture, as applicable. Article and section references in the descriptions of the notes below are references to the applicable indenture under which such notes were or will be issued.

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|                   |     | Old Notes                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |     | New Notes                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| Events of Default |     | Section 5.1 of the Old Notes Indenture:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
 “Event of Default”, wherever used in the Old Notes Indenture with respect to any particular series of Securities, means any one of the following events (whatever the reason for such Event of Default and whether or not it shall be voluntary or involuntary or be effected by operation of law or pursuant to