M&A
confidence high
sentiment positive
materiality 0.80
Runway Growth Finance acquires SWK Holdings via stock/cash merger with key stockholder support
Runway Growth Finance Corp.
- SWK stockholders may elect RWAY common stock (NAV-based exchange ratio) or cash equal to SWK per-share NAV.
- Adviser contributes $9M cash to be distributed pro rata to SWK stockholders as additional consideration.
- Key stockholder Double Black Diamond Offshore (69.9% of SWK) agrees to vote in favor of the merger.
- Third-party valuation of SWK portfolio assets must not be more than $5M below SWK's carrying value as closing condition.
- Merger subject to SWK stockholder approval, SEC registration statement effectiveness, and other customary conditions.