UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
May
17, 2006
Date
of
Report (date of Earliest Event Reported)
NEWTEK
BUSINESS SERVICES, INC.
(Exact
Name of Company as Specified in its Charter)
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NEW
YORK
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001-16123
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11-3504638
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(State
or Other Jurisdiction of Incorporation or Organization)
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(Commission
File No.)
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(I.R.S.
Employer Identification No.)
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462
Seventh Avenue, 14th floor, New York, NY 10018
(Address
of principal executive offices and zip code)
(212)
356-9500
(Company’s
telephone number, including area code)
NEWTEK
CAPITAL, INC.
(Former
name or former address, if changed from last report)
Check
the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (see General Instruction A.2. below):
| ¨ |
Written
communications pursuant to Rule 425 under the Securities Act (17
CFR
230.425)
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| ¨ |
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
|
| ¨ |
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR
240.14d-2(b))
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| ¨ |
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR
240.13e-4(c))
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ITEM
3.01 Securities
and Trading Markets.
On
May 16,
2006 Newtek Business Services, Inc. notified the Nasdaq Listing Qualifications
Department (the “Staff”) that it would be unable to make a timely filing of its
Quarterly Report on Form 10-Q for the period ending March 31, 2006 and that,
as
a result, Newtek was not in compliance with requirements under NASDAQ
Marketplace Rule 4310(c)(14). By letter dated May 17, 2006, the Staff confirmed
the foregoing non-compliance, and a copy is attached as Exhibit 99.1. Nasdaq
Marketplace Rule 4310(c)(14) requires that issuers are current in their public
filings.
Newtek
filed its Annual Report on Form 10-K on May 11, 2006 subsequent to the required
filing date of March 31, 2006 and had been notified by the Staff that its common
shares were subject to delisting from the Nasdaq Stock Market. In response,
Newtek has filed its request for a hearing in accordance with applicable Nasdaq
Marketplace Rules. A hearing before the Nasdaq Listing Qualifications Panel
has
been scheduled for June 1, 2006 in Washington, D.C. at which time a
determination will be made as to the action to be taken; the Staff letter of
May
17, 2006 indicates that this hearing will address the non-compliance due to
the
Quarterly Report filing as well.
Newtek
anticipates filing its March 31 Quarterly Report on or before July 14, 2006
and
its June 30 Quarterly Report in a timely manner. The company is not
aware of any other matter which would prevent it from continued listing on
the
Nasdaq Stock Market, however, there can be no assurance that the Panel will
grant the company’s request for continued listing.
ITEM
8.01 Other
Events.
On
May
23, 2006 Newtek Business Services, Inc. issued a press release regarding the
receipt of the above-referenced Staff determination of May 17, 2006, a copy
of
which press release is attached as Exhibit 99.2 hereto and incorporated herein
by reference.
ITEM
9.01. Financial Statements and Exhibits
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99.1 |
Letter
to Newtek from Nasdaq Listing Qualification Department, May 17,
2006
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99.2 |
Press
release, Newtek Receives Nasdaq Delisting Determination, April 24,
2006
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SIGNATURES
In
accordance with the requirements of the Securities Exchange Act of 1934, the
registrant has caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.
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NEWTEK BUSINESS SERVICES,
INC. |
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| Date:
May 23, 2006 |
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/s/
Barry Sloane |
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Barry
Sloane |
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Chairman
of the Board, Chief Executive Officer, and
Secretary
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