M&A
confidence high
sentiment positive
materiality 0.85
Runway Growth to acquire SWK Holdings for ~$220M in NAV-for-NAV merger
Runway Growth Finance Corp.
- Estimated purchase price ~$220M: $75.5M in RWAY shares + ~$145M cash + $9M from advisor.
- SWK portfolio fair value ~$242M (22 companies); healthcare exposure to rise to ~31% from 14%.
- Expected to close late 2025/Q1 2026; SWK board unanimously approved; Carlson Capital supports.
- Projected mid-single-digit run-rate NII accretion, improved dividend coverage and ROE.
- Pro forma total assets ~$1.3B (6/30/25); BC Partners Credit platform supports growth strategy.