Keefe, Bruyette & Woods, Raymond James, JMP Securities help with sale
By Devika Patel
Knoxville, Tenn., Oct. 9 – Newtek Business Services Corp. said it priced a $33 million public sale of stock with a $4.95 million greenshoe. The deal was announced Thursday.
The company will sell 2 million common shares at $16.50 per share. The price per share is a 4.13% discount to the Oct. 8 closing share price of $17.21.
Keefe, Bruyette & Woods, Raymond James and JMP Securities are the bookrunners.
Settlement is expected Oct. 15.
The New York company provides business and financial products to small and medium-sized businesses.
Issuer: | Newtek Business Services Corp.
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Issue: | Common stock
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Amount: | $33 million
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Greenshoe: | $4.95 million, or 300,000 shares
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Shares: | 2 million
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Price: | $16.50
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Warrants: | No
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Bookrunners: | Keefe, Bruyette & Woods, Raymond James and JMP Securities
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Co-managers: | Ladenburg Thalmann and Compass Point
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Announcement date: | Oct. 8
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Pricing date: | Oct. 9
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Settlement date: | Oct. 15
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Stock symbol: | Nasdaq: NEWT
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Stock price: | $17.21 at close Oct. 8
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Market capitalization: | $174.59 million
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