Company: NEWTP
Filing Date: 2025-03-17
Form Type: 10-K
Source: 0001587987-25-000050
Chunk: 29

Company: NewtekOne, Inc.
Filing Date: 2025-03-17
Form: 10-K
Item: Item 7
Chunk 29
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4 million in compensation. On November 17, 2023, the Company entered into the 2023 ATM Equity Distribution Agreement. The 2023 ATM Equity Distribution Agreement provides that the Company may offer and sell up to 3.0 million shares of Common Stock from time to time through the placement agents under the ATM Program. The Company may, subject to market conditions, continue to engage in activity under the Equity ATM Program.

The following table summarizes the total shares sold and net proceeds received under the 2020 and 2023 ATM Equity Distribution Agreement:

2020 ATM ProgramYear Ended December 31, 2024Year Ended December 31, 2023Year Ended December 31, 2022Shares sold— — 107 Net weighted average price per share$— $— $19.12 Net proceeds$— $— $2,054 

2023 ATM ProgramYear Ended December 31, 2024Year Ended December 31, 2023Year Ended December 31, 2022Shares sold1,100 — — Net weighted average price per share$12.56 $— $— Net proceeds$13,818 $— $— Placement agent fees paid$282 $— 

Stock Repurchase Program

On November 1, 2024, the Company’s Board of Directors approved a new stock repurchase program granting the Company authority to repurchase up to 1.0 million shares of Company common stock during the following twelve months. The actual timing and amount of any repurchases under the plan will be determined by the Company in its discretion, and will depend on a number of factors, including market conditions, applicable legal requirements, the Company's capital needs and whether there is a better alternative use of capital. The Company has no obligation to repurchase any amount of its common stock under its new stock repurchase program.

The following table summarizes the total shares repurchased and net proceeds received under the stock repurchase program:

Year Ended December 31, 2024Year Ended December 31, 2023Year Ended December 31, 2022Shares repurchased30 — — Net weighted average price per share$13.35 $— $— Net proceeds$402 $— $— 

2029 Notes

On May 30, 2024, the Company completed a registered offering of $71.9 million in aggregate principal amount of its