Company: NEWTP
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001587987-25-000141
Chunk: 53

Company: NewtekOne, Inc.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 1
Chunk 53
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 Notes550,000 49,952 8.125 %50,000 49,944 8.125 %  2028 Notes40,000 38,900 8.00 %40,000 38,726 8.00 %  2029 Notes71,875 69,878 8.50 %71,875 69,622 8.50 %2029 Notes 75,000 72,906 8.625 %75,000 72,662 8.625 %2030 Notes630,000 29,319 8.375 %— — — %Notes payable - Securitization Trusts1159,635 157,439 6.80 %189,231 186,635 7.32 %Total borrowings$870,381 $657,327 7.29 %$855,977 $708,041 7.22 %1    Net of deferred financing costs. 2    Total commitments were increased to $100.0 million as of July 28, 2025. Refer to NOTE 19—SUBSEQUENT EVENTS: SPV I Facility.3    At June 30, 2025 and December 31, 2024, the carrying amount of Newtek Bank’s FHLB borrowings includes a $0.02 million and $0.04 million purchase accounting adjustment, respectively.4    On March 31, 2025, the 2025 5.00% Notes matured.5    Effective December 11, 2024, the Company entered into Note Amendment and Exchange Agreements (the “Amendment and Exchange Agreements”) with each of the holders of the 2025 8.125% Notes, pursuant to which the Company and the holders of the 2025 8.125% Notes agreed to exchange the 2025 8.125% Notes for the 2027 Notes, effecting amendments solely to (i) extend the February 1, 2025 maturity date of the 2025 8.125% Notes to the new maturity date of February 1, 2027 (the “New Maturity Date”) and (ii) provide that the 2027 Notes will be redeemable in whole, but not in part, at any time, at the option of the Company,