DALLAS, June 28,
2023 /PRNewswire/ -- SWK Holdings Corporation
(Nasdaq: SWKH) ("SWK" or the "Company"), a life science focused
specialty finance company catering to small- and mid-sized
commercial-stage companies, announced the signing of a new
four-year credit facility with First Horizon Bank ("First
Horizon"). The four-year facility, which has $45 million committed at close, will bear
interest at a rate of SOFR plus 3.75% during the revolving
availability period. The facility has an accordion feature that
provides for expansion of the facility by up to an incremental
$80 million, subject to securing
syndication partners and other customary conditions.
"This new credit facility with First Horizon is an important
milestone for SWK as it provides access to additional,
cost-efficient capital that we can deploy to small and mid-sized
life sciences companies seeking our tailored, non-dilutive
financial offerings," stated Jody
Staggs, President and CEO of SWK Holdings. "We foresee this
credit facility as a first step in establishing a longer-term
relationship with First Horizon and welcome the opportunity to work
with the bank and additional syndicate partners to position SWK to
meet the financing needs of more life science companies. The
facility also provides flexibility for SWK to pursue other
forms of capital, including subordinated bonds. I would like to
thank Fund Finance Partners for their effort in assisting SWK
with securing this credit facility."
About SWK Holdings Corporation
SWK Holdings Corporation is a life science focused specialty
finance company partnering with small- and mid-sized
commercial-stage healthcare companies. SWK provides non-dilutive
financing to fuel the development and commercialization of
lifesaving and life-enhancing medical technologies and
products. SWK's unique financing structures provide flexible
financing solutions at an attractive cost of capital to create
long-term value for all SWK stakeholders. SWK's solutions include
structured debt, traditional royalty monetization, synthetic
royalty transactions, and asset purchases typically ranging in size
from $5.0 million to $25.0 million. SWK also owns Enteris BioPharma, a
clinical development and manufacturing organization providing
development services to pharmaceutical partners as well as
innovative formulation solutions built around its proprietary oral
drug delivery technologies, the Peptelligence® platform. Additional
information on the life science finance market is available on the
Company's website at www.swkhold.com.
Safe Harbor Statement
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. Statements including words such as "believes," "expects,"
"anticipates," "intends," "estimates," "plan," "will," "may," "look
forward," "intend," "guidance," "future" or similar expressions are
forward-looking statements. Because these statements reflect SWK's
current views, expectations and beliefs concerning future events,
these forward-looking statements involve risks and uncertainties.
Investors should note that many factors, as more fully described
under the caption "Risk Factors" and elsewhere in SWK's Form 10-K,
Form 10-Q and Form 8-K filings with the Securities and Exchange
Commission and as otherwise enumerated herein, could affect the
Company's future financial results and could cause actual results
to differ materially from those expressed in such forward-looking
statements. The forward-looking statements in this press release
are qualified by these risk factors. These are factors which,
individually or in the aggregate, could cause the Company's actual
results to differ materially from expected and historical results.
You should not place undue reliance on any forward-looking
statements, which speak only as of the date they are made. We
assume no obligation to publicly update any forward-looking
statements, whether as a result of new information, future
developments or otherwise.
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SOURCE SWK Holdings Corporation
