Keefe, Bruyette & Woods, Raymond James, JMP Securities help with sale
By Devika Patel
Knoxville, Tenn., Oct. 15 – Newtek Business Services Corp. said the underwriters for its initial public offering of stock opted to exercise the deal’s $4.95 million greenshoe in full, lifting total proceeds of the offering to $37.95 million. The deal was announced on Oct. 8 and priced for $33 million with the greenshoe on Oct. 9.
The company sold 2.3 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. Of the shares, 300,000 were part of the fully exercised greenshoe.
Keefe, Bruyette & Woods, Raymond James and JMP Securities were the bookrunners.
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: | $37.95 million, including $4.95 million greenshoe of 300,000 shares
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| Shares: | 2.3 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: | $218.82 million
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