DALLAS, Oct. 6, 2015 (GLOBE NEWSWIRE) -- On October 6, 2015, the Financial Industry Regulatory Authority, Inc. ("FINRA") announced on the Daily List the 1:100 reverse stock split followed by a 10:1 forward split for SWK Holdings Corporation (OTCQB:SWKH) ("SWK" or the "Company").
The Company's common stock will trade on OTCQB on a post-split basis under CUSIP number 78501P 203 on the opening of trading on October 7, 2015. For a period of 20 business days the common stock will trade under the ticker symbol "SWKHD" after which point the ticker symbol will revert to "SWKH."
As previously announced by the Company 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.
CONTACT: SWK Investor Relations at (972) 687-7250 or firstname.lastname@example.org.
Source:SWK Holdings Corporation