SWK Holdings Corp (SWKHL): debt financing — SWK Holdings expands credit facility to $35M, extends maturity to Sep 2025

SWK Holdings Corp

Term Loan Commitment increased to $35.0 million; termination date extended to September 30, 2025.
Accordion feature allows up to $15.0 million additional commitment, subject to conditions.
Interest accrues at Adjusted Term SOFR Index plus 2.65% margin, with a 1.00% floor.
Company paid ~$0.2 million in amendment and other fees, capitalized as deferred financing costs.
Cadence Bank waived an existing default from share repurchases exceeding approved amounts by 31,588 shares and $648,752.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

SWK Holdings Corp amended credit facility of $35.0 million with Cadence Bank, successor by merger to Cadence Bank, N.A., successor by merger to State Bank and Trust Company, as a lender and administrative agent at Adjusted Term SOFR Index, with a floor of 1.00 percent, plus a 2.65 percent marg maturing September 30, 2025.

Instrument: credit facility
Principal: $35.0 million
Counterparty: Cadence Bank, successor by merger to Cadence Bank, N.A., successor by merger to State Bank and Trust Company, as a lender and administrative agent
Rate: Adjusted Term SOFR Index, with a floor of 1.00 percent, plus a 2.65 percent marg
Maturity: September 30, 2025
Event: amendment

Exact text from the filing

Pursuant to the Fifth Amendment, the Loan Agreement was amended to increase the Term Loan Commitment to $35.0 million and to extend the Loan Agreement Termination Date to September 30, 2025.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

SWK Holdings Corp amended Fifth Amendment with Cadence Bank valued at $35.0 million (effective 2022-11-16).

Action: amendment
Agreement: credit facility
Counterparty: Cadence Bank
Value: $35.0 million
Effective: 2022-11-16

Exact text from the filing

Pursuant to the Fifth Amendment, the Loan Agreement was amended to increase the Term Loan Commitment to $35.0 million and to extend the Loan Agreement Termination Date to September 30, 2025.

View on SEC.gov

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SWK Holdings Corp filing history →

Source: SEC EDGAR

accession 0001552781-22-000641

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