SWK Holdings (SWKH) Company Report

SWK Holdings Corporation reported strong Q3 2025 financial results, with GAAP net income of $8.8 million (up from $3.5 million in Q3 2024), diluted EPS of $0.72, and a 4.8% increase in total revenue to $10.9 million.
The finance receivables segment achieved adjusted non-GAAP net income of $8.1 million for Q3 2025, with the effective yield reaching a multi-year high of 16.9%.
As of September 30, 2025, net finance receivables totaled $245.4 million.
On October 9, 2025, SWK entered into an Agreement and Plan of Merger with Runway Growth Finance Corp., with the transaction anticipated to close in late Q4 2025 or Q1 2026.
The company repurchased 87,927 shares for $1.3 million during the third quarter of 2025.

Nov 6, 2025, 9:04 PM

SWK Holdings Corp Enters Merger Agreement with Runway Growth Finance Corp.

SWKH

M&A

Takeover Bid

SWK Holdings Corporation entered into an Agreement and Plan of Merger with Runway Growth Finance Corp. and its subsidiaries on October 9, 2025.
The merger is structured as a multi-step process, ultimately resulting in SWK Holdings Corp merging into Runway Growth Finance Corp.
The closing of the First Merger is targeted for on or prior to December 31, 2025, contingent on conditions such as Company Stockholder Approval and NASDAQ listing approval for Parent Common Stock.
A termination fee of $8,225,000 is payable by SWK Holdings Corp to Parent under certain conditions, including if the Company pursues a superior competing proposal.
As of October 7, 2025, SWK Holdings Corp had 12,147,391 shares of Common Stock issued and outstanding.

Oct 10, 2025, 11:11 AM

SWK Holdings Corporation to be Acquired by Runway Growth Finance Corp.

SWKH

M&A

New Projects/Investments

Takeover Bid

Runway Growth Finance Corp. (RWAY) entered into a definitive merger agreement to acquire SWK Holdings Corporation (SWKH), announced on October 9, 2025.
The acquisition is valued at an estimated $220 million, comprising $75.5 million in Runway Growth shares and approximately $145 million in cash, with an additional $9 million cash contribution from Runway Growth Capital LLC.
This transaction is expected to be accretive to Runway Growth's net investment income and will expand its total assets to $1.3 billion pro forma.
The acquisition will significantly increase Runway Growth's healthcare investments from 14% to approximately 31% of its portfolio as of June 30, 2025.
The closing is anticipated in late 2025 or the first quarter of 2026, pending SWK shareholder and regulatory approvals.

Oct 9, 2025, 9:27 PM

SWK Holdings announces full repayment of Elutia loan

SWKH

Revenue Acceleration/Inflection

SWK Holdings Corporation announced the full repayment of its loan to Elutia, Inc. on October 1, 2025.
The company received a $27.8 million payoff payment from Elutia, which included outstanding principal, exit fees, and accrued interest.
This payoff amount exceeds the loan's net GAAP carrying value of $23.9 million as of June 30, 2025.
SWK Holdings expects to recognize approximately $1.4 million of incremental income from accelerated exit fee recognition and an additional $1.4 million from the release of loan loss reserves.