SWK Holdings Corp Enters Material Definitive Agreement

TL;DR

SWK Holdings Corp just signed a big deal for its 2027 Senior Notes.

AI Summary

On March 13, 2024, SWK Holdings Corporation entered into a material definitive agreement related to its Senior Notes due 2027. The company also filed financial statements and exhibits as part of this report.

Why It Matters

This filing indicates a significant event for SWK Holdings Corporation, likely impacting its financial structure and future operations related to its debt.

Risk Assessment

Risk Level: medium — Entering into material definitive agreements can introduce new financial obligations or strategic shifts that carry inherent risks.

Key Numbers

• 001-39184 — SEC File Number (Identifies the company's filing history with the SEC.)
• 77-0435679 — IRS Employer Identification No. (Company's tax identification number.)

Key Players & Entities

• SWK Holdings Corporation (company) — Registrant
• March 13, 2024 (date) — Date of Earliest Event Reported
• 2027 (date) — Maturity year for Senior Notes
• Delaware (jurisdiction) — State of Incorporation
• 5956 Sherry Lane (address) — Business Address

FAQ

Key Financial Figures

• $0.001 — registered Common Stock, par value $0.001 per share SWKH The Nasdaq Stock Mark
• $6 million — nteris an exercise fee of approximately $6 million (the "Asset Price") plus the value of a

Filing Documents

• e24107_swkh-8k.htm (8-K) — 38KB
• e24107_ex10-1.htm (EX-10.1) — 145KB
• 0001552781-24-000138.txt ( ) — 418KB
• swkh-20240313.xsd (EX-101.SCH) — 4KB
• swkh-20240313_def.xml (EX-101.DEF) — 26KB
• swkh-20240313_lab.xml (EX-101.LAB) — 36KB
• swkh-20240313_pre.xml (EX-101.PRE) — 25KB
• e24107_swkh-8k_htm.xml (XML) — 5KB

01 Entry

Item 1.01 Entry into a Material Definitive Agreement. 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. Pursuant to the terms of the Exclusive Option and Asset Purchase Agreement, Aptar must exercise the Option by or before January 1, 2026 (the "Option Term"). In consideration for the grant of the Option, Aptar agreed to pay Enteris a low-single digit million dollar option fee (the "Option Fee"), with the first portion thereof payable upon execution of the Exclusive Option and Asset Purchase Agreement, and the second portion thereof payable by January 1, 2025. In addition, Aptar agreed to guarantee to Enteris minimum annual revenue payments under Enteris's existing collaboration agreement with Aptar in the mid-single digit million dollar amounts for the calendar years 2024 and 2025. Under the terms of the Exclusive Option and Asset Purchase Agreement, if Aptar exercises the Option during the Option Term, Aptar will pay Enteris an exercise fee of approximately $6 million (the "Asset Price") plus the value of any inventory and certain prepaid expenses included within the Assets. The Asset Price will be increased on the basis of a high single digit cumulative annual growth rate percentage beginning on the Effective Date, so long as the Option is not exercised within the first six months of the Option Term. Any portion of the Option Fee paid prior to the exercise of the Option shall be creditable in full against the Ass

01 Financial

Item 9.01 Financial (d) Exhibits Exhibit No. Description 10.1* Exclusive Option and Asset Purchase Agreement, by and between Enteris Biopharma, Inc., SWK Holdings Corporation and AptarGroup, Inc., dated March 13, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) * Exhibits and/or schedules to this exhibit have been omitted pursuant to Item 601(a)(5) of Regulation S-K. The registrant agrees to furnish supplementally copies of any omitted exhibits or schedules to the SEC upon request; provided, however, that the registrant may request confidential treatment pursuant to Rule 24b-2 of the Exchange Act for any exhibits or schedules so furnished. Certain portions of this exhibit have been redacted pursuant to Item 601(b)(10)(iv) of Regulation S-K. The registrant agrees to furnish supplementally an unredacted copy of the exhibit to the SEC upon request. SIGNATURE(S) Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized. SWK HOLDINGS CORPORATION Dated: March 19, 2024 By: /s/ Joe D. Staggs Joe D. Staggs President and Chief Executive Officer

View Full Filing

View this 8-K filing on SEC EDGAR