secwatch.observer — SEC 8-K summary
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Issuer:     SWK Holdings Corp (SWKHL)
CIK:        0001089907
Form:       8-K
Filed at:   2023-06-30T23:59:59+00:00
Accession:  0001552781-23-000317
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 1.02, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1089907/000155278123000317/0001552781-23-000317-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1089907/000155278123000317/e23295_swkh-8k.htm
  HTML page:      https://secwatch.observer/filing/0001552781-23-000317

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