NewtekOne, Inc. 8-K

What Happened

• NewtekOne, Inc. (NEWT) filed an 8-K on February 19, 2026 reporting the completion of a private placement of $15.0 million aggregate principal amount of an 8.375% note due March 1, 2033. The purchase agreement with an institutional accredited investor is dated February 17, 2026. Net proceeds were approximately $14.9 million.

Key Details

• Interest rate: 8.375% per year, payable semiannually on February 1 and August 1, beginning August 1, 2026.
• Maturity and redemption: Matures March 1, 2033; callable by the company at a make-whole price before January 1, 2033, or at 100% of principal plus accrued interest thereafter.
• Placement and registration: Issued in a private placement under Section 4(a)(2) of the Securities Act; the Note is unregistered and may not be resold in the U.S. without registration or an exemption.
• Claim priority: The Note is a direct unsecured obligation, ranks pari passu with other unsecured unsubordinated indebtedness, is effectively subordinated to secured debt, and is structurally subordinated to subsidiary obligations.

Why It Matters

• The company raised about $14.9M of fresh unsecured debt for general corporate purposes, which affects NewtekOne’s leverage and interest expense (an 8.375% coupon).
• Because the Notes are unsecured and subordinated to secured creditors and subsidiary obligations, holders’ recovery in a default would be behind secured lenders and subsidiary creditors.
• Investors should note the financing increases near-term cash but also fixes a relatively high interest cost through 2033; see the company’s future filings for use of proceeds and any impact on liquidity or debt covenants.