In This Article:
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, provided today a portfolio update for material events occurring since September 30, 2024.
Originations
In November, SWK advanced $5.0M to existing borrower Journey Medical to help fund the company's launch of EmrosiTM.
In November, as part of a broader amendment SWK advanced $0.6M to existing borrower Biotricity. On amendment closing, SWK received 600,000 warrants to purchase Biotricity stock at $0.50 per share.
In December, SWK closed an $8.0M senior secured term loan with Triple Ring Technologies, a leader in R&D and product co-development across the medtech, life sciences, sustainable agriculture, and environmental technology industries.
In December, SWK advanced $2.5M to existing SWK borrower SKNV.
In December, SWK closed a $25.7M expansion of its existing credit facility with Eton, which now totals $30.0M. On funding, SWK received 289,736 warrants to purchase Eton stock at $5.32 per share.
In December, SWK advanced $2.5M to existing SWK borrower MedMinder.
Repayments
In November, as a result of the sale of certain Exeevo assets to a third-party, SWK received a $3.4M net payment. In early January, SWK received an additional $0.7M net payment. SWK anticipates receiving a $0.5M payment during the first quarter of 2025 and is eligible for a three-year, annual earn-out based on the increase in gross profit.
In November, SWK received a $13.0M payment from the Biolase bankruptcy estate. SWK anticipates receiving an additional payment from the estate in the first half of 2025.
In December, SWK received a $1.9M payment from Trio Healthcare. SWK may receive an additional, small payment during 2025.
In December, SWK received a $4.2M payment from Veru triggered by the sale of the FC2 Female Condom® to a third-party. SWK has no remaining economics on the product.
In January, Moleculight made a final payment to SWK totaling $12.2M, fully satisfying its outstanding obligation. SWK continues to hold Moleculight preferred equity, which is carried at no value on SWK's balance sheet.
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.