SWK grants Aptar exclusive option to acquire Enteris GMP assets for ~$6M plus fee

SWK Holdings Corp

Exclusive option to buy Enteris's GMP manufacturing and clinical supply assets; option expires Jan 1, 2026.
Option fee low-single digit millions, payable in two installments; first fee due upon execution.
Exercise price ~$6M plus inventory/prepaids; increases at high single digit CAGR if no exercise within 6 months.
Aptar guarantees mid-single digit million minimum revenue for 2024-2025 under existing collaboration.
If exercised, SWK retains excluded assets; transition services to be negotiated.

Key facts

Extracted from this filing and checked against the source text.

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

SWK Holdings Corp entered into Exclusive Option and Asset Purchase Agreement with AptarGroup, Inc. valued at low-single digit million dollar option fee (effective 2024-03-13).

Action: entry
Agreement: asset purchase
Counterparty: AptarGroup, Inc.
Value: low-single digit million dollar option fee
Effective: 2024-03-13

Exact text from the filing

On March 13, 2024, Enteris Biopharma, Inc. (“Enteris”), a wholly owned subsidiary of SWK Holdings Corporation (“SWK”), and SWK entered into an exclusive option and asset purchase agreement (the “Exclusive Option and Asset Purchase Agreement”) with AptarGroup, Inc. (“Aptar”), pursuant to which Enteris granted to Aptar an exclusive option (the “Option”) to acquire certain of Enteris’s assets related to its business of providing good manufacturing practice (GMP) manufacturing and clinical supply services through Phase 1 and 2 to third parties (collectively, the “Assets”), subject to certain exclusions.

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Source: SEC EDGAR

accession 0001552781-24-000138

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