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Newtek Business Services prices upsized common stock offering

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Newtek Business Services prices upsized common stock offering

Newtek Business Services Corp. has priced an upsized offering of 2,250,000 common shares at a public offering price of $15.25.

The offering is expected to raise total gross proceeds of about $34.3 million. Newtek had announced a common stock offering to sell 1.5 million shares with an underwriters option to purchase an additional 225,000 shares.

Keefe Bruyette & Woods, Raymond James and UBS Investment Bank are acting as joint book runners for the offering.