Newtek
Announces Exercise of Over-Allotment Options
[July 15, 2004]
NEW
YORK, Jul 15, 2004 /PRNewswire-FirstCall via COMTEX/
-- Newtek Business Services, Inc. (NKBS) (http://www.newtekbusinessservices.com),
a provider of business services and financial products
to the small to medium-sized business market, today
announced that it has completed the sale of an additional
450,000 shares of its common stock pursuant to the exercise
of underwriters' over-allotment options which were granted
in connection with Newtek's secondary public offering
which closed on July 2, 2004. The sale resulted in net
proceeds to Newtek of approximately $1.5 million after
payment of underwriters' discount and commissions and
estimated offering expenses. In addition, three founding
and principal shareholders of Newtek sold an additional
450,000 shares, in the aggregate, pursuant to the exercise
of such underwriters' over-allotment options. Newtek
did not pay any of the offering costs for the selling
shareholders.
This offering was underwritten by Roth
Capital Partners and Maxim Group LLC. A registration
statement relating to these securities was filed with
and has been declared effective by the Securities and
Exchange Commission. This press release shall not constitute
an offer to sell or solicitation of an offer to buy,
nor shall there be any sale of these securities in any
state in which such offer, solicitation or sale would
be unlawful prior to registration or qualification under
the securities laws of any such state.
Newtek Business Services, Inc. is a
premier provider of business services and financial
products to the small to medium-sized business market.
Newtek's core brands include:
* Newtek Small Business Finance: small
business and U.S. government-
guaranteed lending services;
* Newtek Merchant Solutions: electronic merchant payment
processing
solutions;
* Newtek Financial Information Systems: outsourced bookkeeping
&
controller services;
* Newtek Tax Services: tax filing, preparation and advisory
services;
* Newtek Insurance Agency: customized business insurance
(to be
operational in 2004);
* Newtek IT Services: complete information technology
solutions; and
* CrystalTech Web Hosting: comprehensive web site services
for small and
medium sized businesses.
The statements in this release may contain forward-looking
statements relating to such matters as anticipated future
business strategies and financial performance, anticipated
future number of customers, business prospects, legislative
developments and similar matters. The Private Securities
Litigation Reform Act of 1995 provides a safe harbor
for forward looking statements. In order to comply with
the terms of the safe harbor, the Company notes that
a variety of factors could cause the Company's or CrystalTech's
actual results to differ materially from the anticipated
results expressed in the Company's forward looking statements
such as intensified competition and/or operating problems
and their impact on revenues and profit margins or additional
factors as described in Newtek Business Services' 2003
annual report on Form 10-K and subsequently filed registration
statements.
Contacts:
Newtek Business Services
Barry Sloane
Chairman of the Board & CEO
212-356-9500
bsloane@newtekbusinessservices.com
Dave Gentry
Aurelius Consulting Group, Inc.
407-644-4256
dave@aurcg.com
SOURCE Newtek Business Services, Inc.
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