SWK Holdings Corporation Announces Public Offering of Senior Unsecured Notes Due 2028

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 [email protected].

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.

SOURCE SWK Holdings Corporation

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