On August 20, 2025, NewtekOne, Inc. (NASDAQ: NEWT) closed an offering of 2,000,000 depositary shares, each representing a 1/40th interest in their 8.500% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series B, with a liquidation preference of $1,000 per share. This raised around $48.357 million for the company. Additionally, the underwriters were granted a 30-day option to buy up to an additional 150,000 Depositary Shares at the public offering price less the underwriting discount. The Series B Preferred Stock will pay a non-cumulative 8.500% per annum cash dividend starting from October 1, 2025, until October 1, 2030, with future dividend rates based on the five-year US treasury rate and a fixed spread.