---
schema_version: "secwatch.filing_event.v1"
accession: "0001552781-23-000317"
form_type: "8-K"
ticker: "SWKHL"
cik: "0001089907"
company_name: "SWK Holdings Corp"
filed_at: "2023-06-30T23:59:59+00:00"
generated_at: "2026-06-13T13:39:14.617858+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# SWK Holdings enters $45M revolving credit facility with First Horizon Bank, replacing Cadence loan

## Summary
- New $45M revolving credit facility, can increase up to $80M with lender consent; matures June 28, 2027.
- Interest rate: Term SOFR + 3.75% during revolving period; +4.25% after; proceeds for loan origination and working capital.
- Existing $0 balance Cadence Bank facility terminated on June 28, 2023, with ~$60,000 in fees paid.
- Financial covenants: leverage ≤1.00x, interest coverage ≥4.00x, tangible net worth ≥$145M, liquidity ≥$5M.

## SEC filing metadata
- accession: 0001552781-23-000317
- form_type: 8-K
- ticker: SWKHL
- cik: 0001089907
- company_name: SWK Holdings Corp
- filed_at: 2023-06-30T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 1.02, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1089907/000155278123000317/0001552781-23-000317-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1089907/000155278123000317/e23295_swkh-8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001552781-23-000317
- JSON: https://secwatch.observer/filing/0001552781-23-000317.json
- Plain text: https://secwatch.observer/filing/0001552781-23-000317.txt

## Key facts
- Debt Financings
  SWK Holdings Corp incurred revolving credit of $45.0 million with First Horizon Bank, as a Lender and Agent at Term SOFR plus 3.75% maturing 2027-06-28.
  - Instrument: revolving credit
  - Principal: $45.0 million
  - Counterparty: First Horizon Bank, as a Lender and Agent
  - Rate: Term SOFR plus 3.75%
  - Maturity: 2027-06-28
  - Event: incurrence
  source text: as a Lender and Agent (the “Agent”). The Credit Agreement provides for a revolving credit facility (the “Revolving Credit Facility”) with an initial maximum principal amount of $45.0 million (the “Maximum Loan Amount”). The Credit Agreement provides that the Company may request one or more incremental increases to the Maximum Principal Amount by an aggregate amount
  evidence_url: https://www.sec.gov/Archives/edgar/data/1089907/000155278123000317/0001552781-23-000317-index.htm
- Material Agreements
  SWK Holdings Corp entered into Credit Agreement with First Horizon Bank valued at Revolving credit facility with initial maximum principal amount of $45.0 million, with ability to in (effective 2023-06-28).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: First Horizon Bank
  - Value: Revolving credit facility with initial maximum principal amount of $45.0 million, with ability to in
  - Effective: 2023-06-28
  source text: On June 28, 2023, SWK Holdings Corporation (the “Company”) entered into a new Credit Agreement (the “Credit Agreement”), by and among the Company, SWK Funding LLC, a Delaware limited liability company and wholly-owned subsidiary of the Company (“SWK Funding” and together with the Company, the “Borrower”), the lenders party thereto (each a “Lender” and collectively, the “Lenders”), and First Horizon Bank, as a Lender and Agent (the “Agent”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1089907/000155278123000317/0001552781-23-000317-index.htm
- Material Agreements
  SWK Holdings Corp terminated Loan and Security Agreement with Cadence Bank, N.A. valued at Terminated existing credit agreement with no outstanding balance; paid approximately $60,000 in inte (effective 2023-06-28).
  - Action: termination
  - Agreement: credit facility
  - Counterparty: Cadence Bank, N.A.
  - Value: Terminated existing credit agreement with no outstanding balance; paid approximately $60,000 in inte
  - Effective: 2023-06-28
  source text: In anticipation of closing of the Revolving Credit Facility, on June 28, 2023, the Company paid approximately $60,000 in interest and legal expenses, satisfying in full its obligations under the Existing Credit Agreement, and provided written notice of termination of the Existing Credit Agreement, effective as of June 28, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1089907/000155278123000317/0001552781-23-000317-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.