DALLAS, Nov. 16,
2022 /PRNewswire/ -- SW K 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 the
5th Amendment to the Loan and Security Agreement with
Cadence Bank ("Cadence"). The
amendment increases Cadence's commitment to $35 million, with a $15
million accordion feature that provides for expansion of the
facility up to $50 million, subject
to customary conditions. The facility will bear interest at a rate
of SOFR plus 2.65% and has a maturity date of September 30, 2025.
"We are excited to announce the improvements to our credit
facility and the continuation of our partnership with Cadence,"
stated Jody Staggs, President and
Interim CEO of SWK Holdings. "The new facility provides additional
capital and bears interest at a lower rate. This is an
important first step as SWK optimizes its capital structure and
provides additional, cost-efficient capital at a time when there is
growing interest in our non-dilutive financial offerings among
emerging life-sciences companies."
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,
whose Peptelligence® and ProPerma® drug
delivery technologies create oral formulations of peptide-based and
BCS class II, III, and IV small molecules. 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
