NEW YORK , Jan. 30, 2017 (GLOBE NEWSWIRE) -- Newtek Business Services Corp. (Nasdaq:NEWT) announced today that it has closed an underwritten offering of 2,587,500 shares of common stock ("Shares") at a public offering price of $15.25 per Share. The 2,587,500 Shares includes the underwriters'
NEW YORK, Jan. 30, 2017 (GLOBE NEWSWIRE) -- Newtek Business Services Corp. (Nasdaq:NEWT) announced today that it has closed an underwritten offering of 2,587,500 shares of common stock ("Shares") at a public offering price of $15.25 per Share. The 2,587,500 Shares includes the underwriters' exercise of their option to purchase an additional 337,500 Shares. The current outstanding Share count at the close of this offering is 17,217,474 Shares. Keefe, Bruyette & Woods, A Stifel
Company, Raymond James & Associates, Inc. and UBS Investment Bank acted as joint bookrunners for this offering.
About Newtek Business Services Corp.
Newtek Business Services Corp., Your Business Solutions Company®, is an internally managed BDC, which along with its controlled portfolio companies, provides a wide range of business services and financial products under the Newtek® brand to the small- and medium-sized business ("SMB") market. Since 1999, Newtek has provided state-of-the-art, cost-efficient products and services and efficient business strategies to over 100,000 SMB accounts across all 50 states to help them grow their sales, control their expenses and reduce their risk.
Newtek's and its portfolio companies' products and services include: Business Lending Solutions, SBA Lending, Electronic Payment Processing, Technology Solutions (Cloud Computing, Data Backup, Storage and Retrieval), eCommerce, Accounts Receivable Financing & Inventory Financing, The Secure Gateway, The Newtek Advantage™, Insurance Solutions, Web Services, and Payroll and Benefits Solutions.
Newtek® and Your Business Solutions Company® are registered trademarks of Newtek Business Services Corp.
Note Regarding Forward Looking Statements
This press release contains certain forward-looking statements. Words such as "believes," "intends," "expects," "projects," "anticipates," "forecasts," "goal" and "future" or similar expressions are intended to identify forward-looking statements. All
forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from the plans, intentions and expectations reflected in or suggested by the forward-looking statements. Such risks and uncertainties include, among others, intensified competition, operating problems and their impact on revenues and profit margins, anticipated future business strategies and financial performance, anticipated future number of customers, business prospects, legislative developments and similar matters. Risk factors, cautionary statements and other conditions, which could cause Newtek's actual results to differ from management's current expectations, are contained in Newtek's filings with the Securities and Exchange Commission and available through http://www.sec.gov/. Newtek cautions you that forward-looking statements are not guarantees of future performance and that actual results or developments may differ materially from those projected or implied in these statements.
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Source: Newtek Business Services Corp.
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