Patriot Financial Partners, L.P. Exchanges NewtekOne, Inc. Convertible Preferred Shares for Common Equity and Makes $10 Million Incremental Investment

BOCA RATON, Fla., Sept. 17, 2025 (GLOBE NEWSWIRE) -- NewtekOne, Inc. (“NewtekOne” or the “Company”) (NASDAQ: NEWT) and Patriot Financial Partners, L.P. (“Patriot”) announced today that they have completed a transaction pursuant to which in exchange for all of Patriot’s 20,000 shares of the Company’s convertible preferred stock, Series A, $0.02 par value per share (the “Series A Preferred Stock”) and $10.0 million in cash, the Company issued to Patriot 2,307,692 shares of its common stock, par value $0.02 per share (the “Common Shares”). With the exchange, Patriot relinquishes the right to convert the 20,000 shares of convertible preferred stock into 950,800 shares of common stock. The Common Shares were issued to Patriot in a private placement transaction in reliance on Section 4(a)(2) of the Securities Act of 1933, as amended. The Common Shares are subject to, among other things, a two-year transfer restriction.