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Press Release: SWK Holdings Corporation Announces Share Repurchase Program


Dallas, TX, Dec. 06, 2018 (GLOBE NEWSWIRE) --  SWK Holdings Corporation (SWKH.OB) (“SWK” or the “Company”), a life science focused specialty finance company, today announced that its Board of Directors has authorized the Company to repurchase up to an aggregate of $3,500,000 of the Company’s Common Stock from time to time until May 31, 2019 through a “10b5-1 trading plan” in compliance with Rule 10b-18 under the Securities Exchange Act of 1934.  Repurchases pursuant to the program may not exceed an aggregate of approximately 3% of the issued and outstanding shares of Common Stock pursuant to the terms of the Stockholders’ Agreement by and among affiliates of Carlson Capital, LP and the Company dated August 18, 2014.
The actual timing, number and value of shares repurchased under the program will depend on a number of factors, including the constraints specified in the 10b5-1 trading plan, price, and general market conditions.  Pursuant to such Board authority, the Company adopted a written trading plan today for the purpose of repurchasing shares of its Common Stock in accordance with the guidelines specified under Rule 10b5-1 under the Securities Exchange Act of 1934. Purchases under the 10b5-1 trading plan could commence as early as December 7, 2018 provided that the purchase parameters set forth in the plan are met.A trading plan under Rule 10b5-1 allows companies to repurchase shares at times when they might otherwise be prevented from doing so by securities laws or because of self-imposed trading blackout periods. Repurchases made under the trading plan are subject to the Securities and Exchange Commission’s regulations, as well as certain price, market, volume and timing constraints specified in the trading plan. Because repurchases under the trading plan are subject to such constraints, there is no guarantee as to the exact number of shares that will be repurchased under the trading plan.Winston Black, Chief Executive Officer of SWK, commented, “We believe that the Company’s shares are undervalued, particularly compared to book value, and that repurchasing shares is in the best interests of our stockholders.  We believe the repurchase of our shares is an attractive use of our capital.”About SWK Holdings CorporationSWK Holdings Corporation is a specialized finance company with a focus on the global healthcare sector.  SWK partners with ethical product marketers and royalty holders to provide flexible financing solutions at an attractive cost of capital to create long-term value for both SWK’s business partners and its investors.  SWK believes its financing str...


Posted: 2018-12-06 22:09:00

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