DALLAS, Sept. 15, 2015 (GLOBE NEWSWIRE) — SWK Holdings Corporation (OTCQB:SWKH) (“SWK” or the “Company”), a life science focused specialty finance company, announced that the previously disclosed 1-for-100 reverse stock split of its common stock, immediately followed by a 10-for-1 forward stock split of its common stock was executed effective as of 5:00 p.m. on September 15, 2015. Beginning with the opening of trading on September 16, 2015, the Company’s common stock will trade on OTCQB on a post-split basis under CUSIP number 78501P 203.
At the effective time of the reverse stock split, every 100 shares of the Company’s issued and outstanding common stock were automatically combined into one issued and outstanding share of common stock, with no change in par value per share. Holders with less than 100 shares of common stock had their shares cancelled in the reverse stock split and have the right to receive cash in lieu of such shares. The Company then implemented a forward stock split pursuant to which shareholders received 10 shares of common stock for each share of common stock held. No fractional shares will be issued in connection with the forward stock split.
Computershare will mail a Letter of Transmittal and other documentation that will need to be completed and returned to Computershare in order to receive your post–split shares and any cash in lieu of a fractional share that you are entitled to receive in exchange for your pre-split shares of common stock.
If you hold any of your shares of common stock in uncertificated or “book-entry” form, you do not need to take any action because your pre-split shares of common stock will be converted automatically into post-split shares.
About SWK Holdings Corporation
SWK 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 structures achieve an optimal partnership for companies, institutions and inventors seeking capital for expansion or capital and estate planning by allowing its partners to monetize future cash flow with minimal dilution to their equity stakes. Additional information on the life science finance market is available on the Company’s website at www.swkhold.com.
Statements in this release that are not strictly historical and any statements regarding events or developments that we believe or anticipate will or may occur in the future are “forward-looking” statements within the meaning of the federal securities laws. There are a number of important factors that could cause actual results, developments and business decisions to differ materially from those suggested or indicated by such forward-looking statements and you should not place undue reliance on any such forward-looking statements. Additional information regarding the factors that may cause actual results to differ materially from these forward-looking statements is available in our SEC filings, including our 2014 Annual Report on Form 10-K. These forward looking statements speak only as of the date of this release and the Company does not assume any obligation to update or revise any forward-looking statement, whether as a result of new information, future events and developments or otherwise.
CONTACT: SWK Investor Relations at (972) 687-7250 or firstname.lastname@example.org