Former SWK shareholders should have received merger consideration. The delisting means SWKHL notes continue trading but equity is no longer publicly traded. Monitor RWAY's SEC filings for integration updates.
Price Chart
Executive Summary
SWK Holdings completed its merger with Runway Growth Finance Corp. (RWAY), resulting in a change of control, delisting from Nasdaq, and termination of its credit facility. Former shareholders received cash and stock consideration, and the company amended its debt covenants to comply with investment company regulations.
Key Financial Metrics
Key Facts
- Merger with Runway Growth Finance Corp. (RWAY) completed on April 6, 2026
- Former SWK shareholders received $20.59 in cash and 1.7264 RWAY shares per share, plus $0.74 guaranteed cash payment
- Company common stock delisted from Nasdaq following merger completion
- Change in control occurred, with SWK becoming a wholly-owned subsidiary of RWAY
- First Horizon Bank credit facility terminated and all obligations paid in full
- Second Supplemental Indenture filed to add restrictive covenants for 9.00% Senior Notes due 2027
Financial Impact
RWAY issued approximately 6.33 million shares and paid $173.5 million in cash to former SWK shareholders
Risk Factors
- Integration risk with RWAY
- Potential for unanticipated liabilities from terminated credit facility
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001552781-26-000198 |
| Document: e26171_ex4-3.htm | 0001552781-26-000198 |
| Document: 0001552781-26-000198-index-headers.html | 0001552781-26-000198 |
| Document: 0001552781-26-000198-index.html | 0001552781-26-000198 |
| Document: 0001552781-26-000198.txt | 0001552781-26-000198 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Apr 9, 2026 28w ago | EFFECT | $25.35 $25.36 | ▲ +0.05% | ▼ −7.52% | $25.18 (−0.67%) |
Apr 6, 2026 29w ago | 25-NSE | $25.38 $25.35 | ▼ −0.13% | ▼ −9.11% | $25.18 (−0.80%) |
Apr 6, 2026 29w ago | 8-K | $25.38 $25.35 | ▼ −0.13% | ▼ −9.11% | $25.18 (−0.80%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Create a free account Live analysis, Telegram alerts, watchlists and the MCP server for subscribers