Announcement • Apr 07
Runway Growth Finance Corp. (NasdaqGS:RWAY) managed by Runway Growth Capital LLC completed the acquisition of SWK Holdings Corporation (NasdaqGM:SWKH) from Carlson Capital, L.P for approximately $240 million. Runway Growth Finance Corp. (NasdaqGS:RWAY) managed by Runway Growth Capital LLC entered into a definitive merger to acquire SWK Holdings Corporation (NasdaqGM:SWKH) from Carlson Capital, L.P for approximately $220 million on October 9, 2025. Under the terms of the agreement, SWK shareholders will receive $75.5 million in Runway Growth shares and approximately $145 million in cash. Sell side termination fee is $8.225 million.
SWK’s Board of Directors has unanimously approved the transaction. The transaction is Anticipated closing late Q4 2025 or early Q1 2026, pending SWK shareholder and regulatory approvals, the Form N-14 shall have become effective under the Securities Act, the expiration or termination of the applicable waiting period, under the U.S. Hart-Rodino Antitrust Improvements Act of 1976 and other customary closing conditions. The transaction is expected to be accretive to net investment income. On December 2, 2025, the early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 was granted. As of March 31, 2026, majority shareholders of SWK approved the transaction.
Jonathan Corsico and Steven Grigoriou of Simpson Thacher & Bartlett LLP acted as legal advisor for Runway Growth Capital LLC. Keefe, Bruyette & Woods, Inc. acted as financial advisor and fairness opinion provider and Rachael Bushey and Laura Umbrecht Gulick of Goodwin Procter LLP acted as legal advisor for SWK Holdings Corporation.
Runway Growth Finance Corp. (NasdaqGS:RWAY) managed by Runway Growth Capital LLC completed the acquisition of SWK Holdings Corporation (NasdaqGM:SWKH) from Carlson Capital, L.P for approximately $240 million on April 6, 2026. RWAY issued an aggregate of approximately 6,330,640 shares of RWAY Common Stock and paid $173,539,245.32 in cash to SWK Holdings Corporation former stockholders. Announcement • Oct 10
Runway Growth Finance Corp. (NasdaqGS:RWAY) managed by Runway Growth Capital LLC entered into a definitive merger to acquire SWK Holdings Corporation (NasdaqGM:SWKH) from Carlson Capital, L.P for approximately $220 million. Runway Growth Finance Corp. (NasdaqGS:RWAY) managed by Runway Growth Capital LLC entered into a definitive merger to acquire SWK Holdings Corporation (NasdaqGM:SWKH) from Carlson Capital, L.P for approximately $220 million on October 9, 2025. Under the terms of the agreement, SWK shareholders will receive $75.5 million in Runway Growth shares and approximately $145 million in cash.
SWK’s Board of Directors has unanimously approved the transaction. The transaction is Anticipated closing late Q4 2025 or early Q1 2026, pending SWK shareholder and regulatory approvals and other customary closing conditions. The transaction is expected to be accretive to net investment income.
Simpson Thacher & Bartlett LLP acted as legal advisor for Runway Growth Capital LLC. Keefe, Bruyette & Woods, Inc. acted as financial advisor and Goodwin Procter LLP acted as legal advisor for SWK Holdings Corporation. 
