Key Developments: Newtek Business Services Corp (NEWT.OQ)

NEWT.OQ on NASDAQ Stock Exchange Capital Market

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22 May 2015
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Latest Key Developments (Source: Significant Developments)

Newtek Business Services Corp forms partnership with Lending Club
Wednesday, 6 May 2015 09:00am EDT 

Newtek Business Services Corp:Enters into an exclusive partnership with Lending Club.This partnership will allow Newtek to expand its lending product menu and offer business loans to its customer base through the Lending Club platform.  Full Article

Newtek Business Services declares cash dividend
Thursday, 19 Mar 2015 09:00am EDT 

Newtek Business Services Corp:Declares a cash dividend of $0.39 per share.Payable on April 13 to shareholders of record as of March 30.  Full Article

Newtek Business Services Corp expects to pay annual cash dividend of about $1.80 per share for 2015
Monday, 29 Dec 2014 09:00am EST 

Newtek Business Services Corp:Announced that it currently expects to pay an annual cash dividend(1)of about $1.80 per share for 2015, payable quarterly from anticipated taxable earnings, and is based on 10,206,323 shares of the Company's Common Stock outstanding as of Dec. 22, 2014.Company currently expects its dividend payable for the first quarter of 2015 will be $0.38 per share, which is expected to be declared on April 6, 2015.Says payable on April. 13, 2015 to shareholders of record on March 30, 2015.  Full Article

Newtek Business Services Corp closes offering of 2,530,000 shares of common stock
Tuesday, 18 Nov 2014 01:14pm EST 

Newtek Business Services Corp:Says it has closed an underwritten offering of 2,530,000 shares of common stock at a public offering price of $12.50 per share for total gross proceeds of $31,625,000.This amount includes exercise in full by underwriters of their option to purchase up to additional 330,000 shares of company's common stock.Intends to use net proceeds of this offering to expand financing activities and to primarily increase activity in SBA 7(a) lending and make direct investments in portfolio companies in accordance with investment objectives and strategies.Company will also pay operating expenses and may pay other expenses, such as due diligence expenses of potential new investments, from the net proceeds of proposed offering.joint-lead book-running managers for offering were JMP Securities LLC and Ladenburg Thalmann.Lebenthal & Co., LLC acted as co-manager for offering.  Full Article

Newtek Business Services Inc prices offering of 2,200,000 shares of common stock
Thursday, 13 Nov 2014 08:30am EST 

Newtek Business Services Inc:Prices an underwritten offering of 2,200,000 shares of its common stock at a public offering price of $12.50 per share for total gross proceeds of $27.5 mln.In connection with the offering, company has granted the underwriters for offering an option to purchase up to an additional 330,000 shares of company's common stock.Intends to use the net proceeds to expand its financing activities and to primarily increase its activity in SBA 7(a) lending and make direct investments in portfolio companies in accordance with its investment objectives and strategies.Company will also pay operating expenses and may pay other expenses, such as due diligence expenses of potential new investments, from the net proceeds of the proposed offering.Joint-lead book-running managers for the offering are JMP Securities LLC and Ladenburg Thalmann.Lebenthal & Co., LLC is acting as a co-manager for the offering.  Full Article

Newtek closes additional $23 mln line for its lending subsidiary
Thursday, 30 Oct 2014 09:00am EDT 

Newtek Business Services Inc:Says The Small Business Authority, announces that its lending subsidiary, Newtek Small Business Finance, Inc., closed an additional $23 mln in financing, which will increase its existing revolving credit facility to $50 mln through Capital One, N.A.With this addition, the company's total financing through Capital One, N.A., is $70 mln on company-wide basis.The $70 mln consists of $10 mln term loan, which will be fully amortized over four years, and up to $60 mln in revolving lines of credit.As previously reported, the $10 mln term loan was used to refinance company's previous $10 mln of mezzanine debt, which reduced company's cash interest expense on an annual basis by more than $1.0 mln, or 1000 basis points.Says for total of about $4.2 mln over remaining term of the retired mezzanine debt.  Full Article

Newtek Business Services Inc to offer american express full acquiring program to small business customers and sales channels
Wednesday, 8 Oct 2014 09:00am EDT 

Newtek Business Services Inc:Announces that its merchant processing segment, Newtek Merchant Solutions, is offering American Express full acquiring program to its small business customers and sales channels.Through participation in this program, Newtek Merchant Solutions will offer advantage of easy, convenient and cost-effective acceptance of American Express Cards to its customers with benefits of single statement and one settlement process.  Full Article

Newtek Business Services narrows FY 2014 EPS outlook, narrows FY 2014 pretax income outlook to a range below analysts estimates, reaffirms FY 2014 revenue, EBITDA outlook
Thursday, 14 Aug 2014 09:00am EDT 

Newtek Business Services:Now expects FY 2014 revenue midpoint forecast at $161.0 million, with a range of $154.0 and $168.0 million, which represents an increase of 12.1 pct over FY 2013 revenue.FY 2014 adjusted pretax income midpoint forecast at $13.5 million, with a range of $12.5 and $14.5 million, which represents an increase of 21.6 pct over FY 2013 GAAP pretax income.FY 2014 adjusted EPS midpoint forecast at $0.23 per share, with a range of $0.21 and $0.25, which represents an increase of 15 pct over FY 2013 GAAP EPS.FY 2014 adjusted EBITDA midpoint forecast at $26.0 million, with a range of $24.5 and $27.5 million, which represents an increase of 26.2 pct over 2013 Adjusted EBITDA of $20.6 million.FY 2014 EPS of $0.25, revenue of $158 mln, pre-tax profit of $16.32 mln and EBITDA of $26.4 mln - Thomson Reuters I/B/E/S.  Full Article

Newtek Business Services Inc partners with Randolph-Brooks Federal Credit Union
Tuesday, 5 Aug 2014 09:00am EDT 

Newtek Business Services Inc:Signed referral partnership agreement with Randolph-Brooks Federal Credit Union (RBFCU).To provide merchant processing and payroll products and services to RBFCU's over 450,000 members and almost 50 Texas branch locations.Partnership will enable RBFCU members to consult with Newtek's business service specialists in aforementioned product lines, and gain assistance with choosing the best solution to suit their particular business needs.  Full Article

Newtek Business Services Inc enters into $20 mln credit agreement with Capital One, N.A
Tuesday, 1 Jul 2014 09:00am EDT 

Newtek Business Services Inc:Entered into $20 mln credit agreement with Capital One, N.A., which consists of $10 mln term loan and $10 mln revolving credit facility.This is in addition to current $27 mln financing line from Capital One, N.A. which Newtek uses exclusively for small business lending business and brings Co's total financing through Capital One, N.A. to $47 mln.Additional $10 mln revolving credit facility will be used by Company for general corporate purposes.  Full Article

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