SWK Holdings (SWKH) Resumes $5M Share Repurchase Program
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SWK Holdings Corporation (Nasdaq: SWKH) today announced that its Board of Directors has authorized the Company to repurchase up to an aggregate of $5.0 million of the Company's Common Stock from time to time until March 15, 2022 through a "10b5-1 trading plan" in compliance with Rule 10b-18 under the Securities Exchange Act of 1934.
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 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 July 15, 2021, provided that the purchase parameters set forth in the plan are met. 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, "While the Strategic Review Committee continues its work to identify, review and explore strategic alternatives for SWK with a view to maximizing stockholder value, we believe the repurchase of our shares remains an attractive use of our capital and is in the best interests of our stockholders."
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