Item 1.01. Entry Into a Material Definitive Agreement.



On January 22, 2021, Newtek Business Services Corp. (the "Company") and U.S.
Bank National Association (the "Trustee"), entered into a Seventh Supplemental
Indenture (the "Seventh Supplemental Indenture") to the Indenture, dated as of
September 23, 2015, between the Company and the Trustee (the "Base Indenture",
and together with the Seventh Supplemental Indenture, the "Indenture"). The
Seventh Supplemental Indenture relates to the Company's issuance, offer and sale
of $115,000,000 aggregate principal amount of its 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 the Company's 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 the Company 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 bear interest at a
rate of 5.50% per year payable on February 1, May 1, August 1 and November 1 of
each year, commencing May 1, 2021.

The net proceeds the Company received from the sale of the Notes was
approximately $111,287,500 based on a public offering price of $25 per Note,
after deducting the underwriting discount and commissions payable by the Company
and estimated offering expenses payable by the Company. The Company 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.
The Company 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, the Company 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%. The Company may also use the net proceeds for general
corporate purposes, including making direct investments in portfolio companies.

The Notes will be the Company's direct unsecured obligations and rank pari
passu, or equal, with all outstanding and future unsecured unsubordinated
indebtedness issued by the Company. The Notes will be effectively subordinated
to the Company's existing and future secured indebtedness to the extent of the
value of the assets securing such indebtedness, and structurally subordinated to
all existing and future indebtedness and other obligations of any of the
Company's subsidiaries.

The Indenture contains certain covenants, including covenants requiring the
Company to (i) comply with the asset coverage requirements of the Investment
Company Act of 1940, whether or not it is subject to those requirements, and
(ii) provide financial information to the holders of the Notes and the Trustee
if the Company is no longer subject to the reporting requirements under the
Securities Exchange Act of 1934, as amended. These covenants are subject to
important limitations and exceptions that are described in the Indenture.

The Notes were offered and sold pursuant to the Registration Statement on Form
N-2 (File No. 333-237974), the preliminary prospectus filed with the Securities
and Exchange Commission on January 14, 2021, the pricing term sheet filed with
the Securities and Exchange Commission on January 15, 2021 and the final
prospectus supplement dated January 14, 2021. The transaction closed on January
22, 2021.

The foregoing descriptions of the Seventh Supplemental Indenture and the Notes
do not purport to be complete and are qualified in their entirety by reference
to the full text of the Seventh Supplemental Indenture and the Notes,
respectively, each filed as exhibits hereto and incorporated by reference
herein.

Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The information required by Item 2.03 is contained in Item 1.01 of this Current Report on Form 8-K and is incorporated by reference herein.

--------------------------------------------------------------------------------

Item 8.01. Other Events.



On January 14, 2021, the Company entered into an underwriting agreement (the
"Underwriting Agreement") with Keefe Bruyette & Woods, Inc., as representative
of the several underwriters named in Schedule A thereto (the "Underwriters"), in
connection with the issuance, offer and sale of the Notes. In addition, pursuant
to the Underwriting Agreement, the Company granted an option to the Underwriters
to purchase up to an additional $15,000,000 aggregate principal amount of the
Notes, which the Underwriters fully exercised pursuant to a notice issued on
January 21, 2021.

The foregoing description of the Underwriting Agreement does not purport to be
complete and is qualified in its entirety by reference to the full text of the
Underwriting Agreement filed with this report as Exhibit 1.1 and which is
incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.



(d)  Exhibits.
Exhibit Number                   Description

                    1.1            Underwriting Agreement dated January 14,

2021 by and among Newtek Business

Services Corp. and Keefe, Bruyette &

Woods, Inc. , as representative of


                                 the several underwriters named therein.
                    4.1            Seventh Supplemental Indenture dated of

January 22, 2021 between Newtek

Business Services Corp. and U.S. Bank

National Association, as trustee.


                      4.2        Form of 5.50 % Notes due 2026

(incorporated by reference to Exhibit 4.1 and


                                 Exhibit A therein).
                    5.1            Opinion of Eversheds Sutherland (US) LLP
                     23.1        Consent of Eversheds Sutherland (US) LLP

(incorporated by reference to


                                 Exhibit 5.1)

--------------------------------------------------------------------------------

© Edgar Online, source Glimpses