Newtek Business Services Corp. filed a shelf registration to sell up to $300 million of certain securities from time to time.
Securities include common shares, preferred shares, subscription rights, warrants and debt securities.
The company carried forward to the latest filing $181.1 million of unsold securities from the $300 million it previously filed to offer.
The company intends to use the net proceeds from the sale of securities to fund investments in debt and equity securities as well as for general corporate purposes, which include funding investments and repaying any outstanding debt. Pending such investments, the company intends to invest the proceeds primarily in cash, cash equivalents, U.S. government securities and other high-quality temporary investments that mature in one year or less from the date of investment, according to a regulatory filing.
