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NewtekOne, Inc. (NASDAQ:NEWT) announced Friday that its Board of Directors approved a twelve-month extension of the company’s existing share repurchase program. The program, which was initially authorized on November 1, 2024, allows NewtekOne to repurchase up to 1,000,000 shares of its common stock.
According to the company’s statement in a Securities and Exchange Commission filing, the timing and amount of any repurchases will be determined at NewtekOne’s discretion. Factors influencing repurchases may include market conditions, legal requirements, capital needs, and alternative uses of capital. The company stated that it is not obligated to repurchase any specific amount of its common stock under the program.
NewtekOne’s common stock, as well as several series of notes and depositary shares, are listed on the Nasdaq Global Market. The company is incorporated in Maryland and is headquartered in Boca Raton, Florida.
This information is based on a press release statement included in the company’s SEC filing.
In other recent news, Newtek Business Services Corp. reported its third-quarter earnings for 2025, with an earnings per share of $0.67, exceeding the forecast of $0.64. However, the company did not meet revenue expectations, reporting $74.94 million compared to the anticipated $78.31 million. This revenue miss has raised concerns among investors despite the positive earnings surprise. Additionally, NewtekOne announced the appointment of Justine Martin as Chief Revenue Officer of its subsidiary, Newtek Merchant Solutions. Martin has over 30 years of experience in the payments processing industry, having previously led sales teams at Bank of America’s Merchant Services division. Her expertise is expected to contribute to client and revenue growth at Newtek Merchant Solutions. These developments mark significant changes and challenges for Newtek Business Services Corp. as it navigates the evolving business landscape.
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