SWKH - SWK Holdings enters new credit facility with a $45M commitment at close

2023-06-28 16:55:18 ET

• SWK Holdings ( NASDAQ: SWKH ) on Wednesday said it had signed a new four-year credit facility with First Horizon Bank.
• The facility will provide a $45M commitment at close and will bear interest at a rate of SOFR plus 3.75% during the revolving availability period.
• The facility also has an accordion feature that provides for an expansion by up to an additional $80M.
• "This new credit facility with First Horizon is an important milestone for SWK as it provides access to additional, cost-efficient capital that we can deploy to small and mid-sized life sciences companies seeking our tailored, non-dilutive financial offerings," SWKH CEO Jody Staggs said in a statement .
• SWK Holdings ( SWKH ) stock earlier closed -0.6% at $16.60.

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