NewtekOne Inc. has announced amendments to its bylaws, including the creation of a new series of preferred stock, designated as "8.500% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series B." The Series B Preferred Stock establishes new terms, preferences, and rights, with 53,750 authorized shares, and ranks senior to the company's common stock. The adjustments aim to structure the company's capital with specific preferences and rights in place for future operations.
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