DALLAS, Oct. 11,
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, today announced an amendment to its
revolving credit facility. The amended credit facility provides
total commitments of $60 million,
including a new $15 million
commitment from Woodforest National Bank ("Woodforest") and an
existing $45 million commitment from
First Horizon Bank. All other terms of the facility remain
unchanged, including the accordion feature, which provides for
expansion of the facility up to $125
million, subject to customary conditions.
"We are thrilled to partner with Woodforest to expand our credit
facility," stated Jody Staggs,
President and CEO of SWK Holdings. "In conjunction with the recent
closing of a $30 million senior notes
offering, the additional $15 million
of credit facility commitment from Woodforest provides significant
capital with which to execute our business plan, providing flexible
financing to innovative life science 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, 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
