Company: NEWTP
Filing Date: 2025-04-23
Form Type: 8-K
Source: 0001587987-25-000071
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Company: NewtekOne, Inc.
Filing Date: 2025-04-23
Form: 8-K
Item: Item 2.02
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Item 2.02. Results of Operations and Financial Condition.

On April 23, 2025, NewtekOne. Inc. (the “ Company” ) closed a securitization pursuant to which the Company’s subsidiary, Newtek Business Service Holdco 6, Inc. (“ Newtek ALP Holdings”) sold $155,930,000 of Class A Notes, $23,820,000 of Class B Notes, and $4,330,000 of a Class C Note (collectively, the “ Notes”) issued by NALP Business Loan Trust 2025-1. The Notes are backed by $216,564,700 of collateral, consisting of $184,414,700 of Newtek ALP Holdings originated alternative loan program (“ ALP”) loans and a $32,150,000 prefunding account to acquire additional ALP loans originated by the Newtek ALP Holdings. The Class A Notes received a Morningstar DBRS rating of “ A (low) (sf)” and were priced at a yield of 6.338%; the Class B Notes received a Morningstar DBRS rating of “ BBB (sf)” and were priced at a yield of 7.838%; and the Class C Note received a Morningstar DBRS rating of “ BB (sf)” and was priced at a yield of 10.338%. The Notes had a weighted average yield of 6.62% and an 85% advance rate.

The Notes were not registered under the Securities Act of 1933, as amended (the “ Securities Act ”), and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. The Notes may only be offered and sold in the United States in accordance with Rule 144A under the Securities Act.

SIGNATURES

In accordance with the requirements of the Securities Exchange Act of 1934, the registrant has caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

                            NEWTEKONE, INC.                                                                    
  Date: April 23, 2025      By:                  /S/ B ARRY S LOANE                                            
                                                 Barry Sloane                                                  
                                                 Chief Executive Officer, President and Chairman of the Board