Patriot Financial Group Acquires 8.06% Stake in NewtekOne, Inc.

Patriot Financial Partners IV, L.P. and Patriot Financial Partners Parallel IV, L.P. have acquired a combined 8.06% stake in NewtekOne, Inc. through a Securities Purchase and Exchange Agreement. The transaction involved the exchange of 20,000 shares of Series A Convertible Preferred Stock and $10 million in cash for 2,307,692 shares of common stock. The Patriot Financial Group, which includes several entities and individuals, has stated that the acquisition is for investment purposes. The group may acquire additional shares or dispose of the current holdings depending on market conditions and regulatory limitations. The filing also includes a Joint Filing Agreement among the members of the Patriot Financial Group.