0001193125-26-144599
SEC filingRunway Growth Finance Corp. completed its acquisition of SWK Holdings Corporation on April 6, 2026, issuing approximately 6.33 million shares and assuming $30 million in senior notes, expanding its healthcare portfolio and scaling its platform.
Runway Growth Finance Corp. has successfully completed its strategic acquisition of SWK Holdings Corporation, a life science focused specialty finance company, through a three-step merger process finalized on April 6, 2026. The transaction represents a significant expansion of the company's healthcare and life sciences investment capabilities, increasing this segment from 14% to approximately 32% of its portfolio. The $249 million acquisition consideration, comprising $75.5 million in Runway Growth shares valued at closing NAV per share of $11.93 and $173.5 million in cash, was supplemented by an additional $9 million cash contribution from the company's external investment adviser, Runway Growth Capital LLC, demonstrating confidence in the platform's strength. As part of the transaction, Runway Growth assumed $30 million in aggregate principal amount of SWK's 9.00% Senior Notes due 2027 through a Third Supplemental Indenture, formally taking on the debt obligations. The acquisition expands Runway Growth's balance sheet to $1.2 billion in total assets on a pro forma basis, positioning the company as a more substantial player in the venture lending market. Management expects the transaction to be accretive to net investment income and enhance the company's earnings power, supporting improved dividend coverage and long-term return potential. Concurrently, the company reported first quarter 2026 portfolio activity including $17.6 million in new investments and $19 million in liquidity events, maintaining its credit-focused approach to late- and growth-stage companies.