DALLAS, Sept. 26,
2023 /PRNewswire/ -- SWK Holdings Corporation
(NASDAQ: SWKH) ("SWK" or the "Company") today announced that
it plans to offer $30 million in aggregate principal
amount of senior unsecured notes due 2028 (the "Notes") in a
registered underwritten public offering (the "Offering"). SWK also
intends to grant the underwriters of the Offering an option to
purchase up to an additional $4.5
million in aggregate principal amount of the Notes. SWK
intends to use the net proceeds from the Offering for general
corporate purposes, including funding future acquisitions and
investments, repaying indebtedness, making capital expenditures and
funding working capital. The Notes will be issued in minimum
denominations of $25.00 and integral multiples
of $25.00 in excess thereof. SWK and the Notes have been
rated BBB- by Egan-Jones Ratings Company, an independent rating
agency.
In connection with the Offering, SWK has applied to list the
Notes on the Nasdaq Global Market ("Nasdaq") under the symbol
"SWKHL". If approved for listing, trading on Nasdaq is expected to
commence within 30 days after the Notes are first issued.
B. Riley Securities, Inc., Ladenburg Thalmann &
Co. Inc., and William Blair &
Company, L.L.C. will act as joint book-running managers for the
Offering. InspereX LLC and Maxim Group LLC will act as
co-managers for the Offering.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy the securities described herein,
nor shall there be any sale of these securities in any state or
other jurisdiction in which such an offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such jurisdiction. The Notes may only be
offered and sold under SWK's registration statement on Form S-1
(including a preliminary prospectus), as amended and as may be
supplemented by any free writing prospectus that the Company may
file with the Securities and Exchange Commission ("SEC"), which has
been filed with the SEC but has not yet become effective. The Notes
may not be sold nor may offers to buy be accepted prior to the time
the registration statement becomes effective. Copies of the
registration statement may be obtained on the SEC's website
at www.sec.gov, or by contacting B. Riley Securities, Inc. by
phone at (703) 312-9580 or by
emailing prospectuses@brileyfin.com.
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.
Forward-Looking Statements
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,
including uncertainties related to market conditions and the
completion of the Offering on the anticipated terms or at all.
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 that,
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
