 BOCA RATON, Fla., Jan. 15, 2021 GLOBE NEWSWIRE -- Newtek Business Services Corp., NASDAQ: NEWT, an internally managed business development company BDC, today announced the pricing of its public offering of 100 million in aggregate principal amount of 5.50 Notes Due 2026 the Notes. The Notes will mature on February 1, 2026 and may be redeemed in whole or in part at any time or from time to time at Newteks option on or after February 1, 2022, upon not less than 30 days nor more than 60 days written notice by mail prior to the date fixed for redemption thereof, at a redemption price equal to the following amounts, plus accrued and unpaid interest to, but excluding, the redemption date: 1 100 of the principal amount of the Notes to be redeemed plus 2 the sum of the present value of the scheduled payments of interest exclusive of accrued and unpaid interest to the date of redemption on the Notes to be redeemed from the redemption date until February 1, 2023, discounted to the redemption date on a semi-annual basis assuming a 360-day year consisting of twelve 30-day months using the applicable Treasury Rate plus 50 basis points; provided, however, that if Newtek redeems any Notes on or after February 1, 2023 the date falling three years prior to the maturity date of the Notes, the redemption price for the Notes will be equal to 100 of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest, if any, to, but excluding, the date of redemption. The Notes will bear interest at a rate of 5.50 per year payable quarterly. Newtek has also granted the underwriters a 30-day option to purchase up to an additional 15 million in aggregate principal amount of the Notes to cover overallotments, if any. Newtek intends to use the net proceeds from the sale of the Notes to fund investments in debt and equity securities in accordance with its investment objective and strategies. Newtek may use the net proceeds to fully or partially pay down, retire, or redeem certain of its outstanding indebtedness, including the outstanding 6.25 Notes due 2023 the 2023 Notes. As of January 12, 2021, Newtek had approximately 57.5 million of aggregate principal amount outstanding, plus accrued interest, of 2023 Notes, which mature on March 1, 2023 and bear interest at a rate of 6.25. Newtek may also use the net proceeds for general corporate purposes, including making direct investments in portfolio companies. 