NewtekOne, Inc. and Paltalk, Inc. To Hold Conference Call on January 2, 2025, To Discuss the Anticipated January 2, 2025 Closing of the Divestiture of Newtek Technology Solutions, Inc. to Paltalk, Inc.
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 30 2024
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Source: Newsfilter
Acquisition Announcement: Paltalk, Inc. is set to acquire Newtek Technology Solutions, Inc. on January 2, 2025, following shareholder approval, with a total consideration of $4 million in cash and 4 million shares of preferred stock, plus potential earn-out payments based on future performance.
Post-Acquisition Plans: After the acquisition, Paltalk will change its name to Intelligent Protection Management Corp., retain Newtek's IT team, and continue to manage technology solutions for NewtekOne's clients while allowing NewtekOne to appoint a board representative.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
