NEWTEK BUSINESS SERVICES CORP. (NASDAQ:NEWT) Files An 8-K Other EventsItem 8.01. Other Events
In response to updated voting guidelines issued by a proxy advisory firm, on June 1, 2018, Newtek Business Services Corp.’s (the “Company”) Board of Directors (“Board”) approved, and has recommend that the Company’s shareholders approve, an amendment (the “Charter Amendment”) to the Company’s Articles of Amendment and Restatement (the “Charter”). The Charter Amendment would allow shareholders to amend the Company’s bylaws (the “Bylaws”) by the affirmative vote of the holders of a majority of all votes entitled to be cast. The Company expects to hold a special meeting of shareholders to allow shareholders to vote on the Charter Amendment in July of 2018.
If shareholders approve the Charter Amendment, the Board has authorized the Company to make conforming amendments to the Bylaws.
The existing Charter will remain in effect unless and until stockholders approve the Amendment.
About NEWTEK BUSINESS SERVICES CORP. (NASDAQ:NEWT)
Newtek Business Services Corp. is a non-diversified closed-end management investment company. The Company is engaged in non-bank lending providing a range of business services and financial products under the Newtek brand to the small- and medium-sized business (SMB) market. Its products and services consist of Business Lending, Electronic Payment Processing, Managed Technology Solutions (Cloud Computing), e-commerce, Accounts Receivable Financing, The Secure Gateway, The Newtek Advantage, personal and commercial Insurance Services, Web Services, Data Backup, Storage and Retrieval, and Payroll Solutions. The Company offers services along with its controlled portfolio companies. The Company’s portfolio consists of guaranteed and unguaranteed non-affiliate loan investments that are through its small business finance platform.
