SWK Holdings (SWKH) Prices $30M Notes Offering

SWK Holdings Corporation (NASDAQ: SWKH) today announced that it has priced its previously announced registered underwritten public offering of $30 million in aggregate principal amount of 9.00% Senior notes due 2027. SWK has also granted the underwriters of the Offering an option to purchase up to an additional $4.5 million in aggregate principal amount of the Notes. The total net proceeds from the Offering are approximately $29.1 million.

The Notes will mature on January 31, 2027, unless earlier redeemed, and will bear interest at a rate of 9.00% per annum, payable quarterly in arrears on March 31, June 30, September 30 and December 31 of each year and at maturity, commencing on December 31, 2023.

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. The Offering is expected to close on October 3, 2023, subject to the satisfaction of customary closing conditions.

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 on October 4, 2023.

B. Riley Securities, Inc., Ladenburg Thalmann & Co. Inc. and William Blair & Company, L.L.C. are acting as joint book-running managers for the Offering. InspereX LLC and Maxim Group LLC are acting 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 and declared effective on September 28, 2023. 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].

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