SWK Holdings Appoints Jerry Albright to Board of Directors

SWK Holdings Corporation (SWKH) announced the appointment of Jerry Albright to its Board of Directors, effective March 15, 2023, replacing Wendy DiCicco, who opted not to seek re-election due to external commitments.

Rhea-AI Summary

SWK Holdings Corporation (SWKH) announced the appointment of Jerry Albright to its Board of Directors, effective March 15, 2023, replacing Wendy DiCicco, who opted not to seek re-election due to external commitments. Mr. Albright brings extensive experience from his roles at the Teacher Retirement System of Texas and as managing partner at ADIM, LLC. His expertise is expected to enhance SWK's strategic goals in providing non-dilutive financing for small and mid-sized healthcare companies. The transition is aimed at maximizing SWK’s position in the market amid favorable capital dynamics.

Positive

• Appointment of Jerry Albright is expected to enhance board expertise and strategic direction.
• Mr. Albright's experience in investment management and board protocols may improve governance.

Negative

• Transition may raise concerns about continuity after Wendy DiCicco's departure.

Argus Session date unavailable

+1.19% session move Open Argus

Details

News Market Reaction – SWKH

The recorded move for SWKH in the trading session of this news was +1.19%.

Data tracked by StockTitan Argus. Session date unavailable.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

DALLAS, March 15, 2023 /PRNewswire/ -- SWK Holdings Corporation (Nasdaq: SWKH) ("SWK" or the "Company"), a life science focused specialty finance company catering to small- and mid-sized commercial-stage companies, today announced that Jerry Albright has been named to the Company's Board of Directors and will replace Wendy DiCicco, who chose not to seek re-election to the Board because of external professional commitments.  The transition will be effective March 15, 2023, with Mr. Albright joining Board Chair, Laurie Dotter, and directors, Robert K. Hatcher, and Marcus Pennington, on the Board.  

"We are pleased to welcome Jerry to SWK's Board of Directors and look forward to benefitting from his extensive investment and banking experience as we continue to target opportunities to maximize SWK's position as a partner of choice for small- and mid-sized healthcare companies seeking non-dilutive financing to fuel growth," stated Ms. Dotter. "We believe Jerry's expertise in board protocols and practices should allow for a seamless transition from Ms. DiCicco, who has served on our Board since February 2022. During her tenure, Wendy provided valuable industry insights to the management team and her colleagues on the Board and was instrumental in revamping our executive compensation program, which now more closely aligns our management team with shareholders. On behalf of the leadership team and Board, we thank Wendy for her contributions."

Mr. Albright is currently a managing partner of ADIM, LLC, an investment management firm specializing in establishing protocols, policies, and practices for boards of directors.  Prior to ADIM, Mr. Albright held multiple roles of increasing responsibility at the Teacher Retirement System of Texas ("TRS") for nearly three decades until his retirement in May 2020, including as TRS Investment Division's Deputy Chief Investment Officer, Chief Operating Officer, Director of Investment Operations and, most recently, as its Chief Investment Officer, in which capacity he served from mid-2017 until his retirement.  Prior to joining TRS, Mr. Albright was the Executive Vice President and a member of the board of directors of a multi-bank holding company in Texas, in addition to serving as a director on the board of two affiliated banks.  Mr. Albright has also previously served on the Advisory Board of the Finance Department at Texas A&M University. Mr. Albright holds a bachelor's degree in economics from Texas A&M University.

"Jerry is an excellent addition to the Board and arrives at a time of opportunity for SWK given the dynamics within the capital markets that we believe continue to make our suite of financing solutions enticing to life science companies in need of capital," stated Mr. Hatcher.  "We wish Wendy the very best as she continues to serve as an advisor to companies in the healthcare sector, including SWK portfolio companies."

About SWK Holdings Corporation
SWK Holdings Corporation is a life science focused specialty finance company partnering with small- and mid-sized commercial-stage healthcare companies. SWK provides non-dilutive financing to fuel the development and commercialization of lifesaving and life-enhancing medical technologies and products. SWK's unique financing structures provide flexible financing solutions at an attractive cost of capital to create long-term value for all SWK stakeholders. SWK's solutions include structured debt, traditional royalty monetization, synthetic royalty transactions, and asset purchases typically ranging in size from $5.0 million to $25.0 million.  SWK also owns Enteris BioPharma, whose Peptelligence® and ProPerma® drug delivery technologies create oral formulations of peptide-based and BCS class II, III, and IV small molecules. Additional information on the life science finance market is available on the Company's website at www.swkhold.com.

Safe Harbor Statement
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements including words such as "believes," "expects," "anticipates," "intends," "estimates," "plan," "will," "may," "look forward," "intend," "guidance," "future" or similar expressions are forward-looking statements. Because these statements reflect SWK's current views, expectations and beliefs concerning future events, these forward-looking statements involve risks and uncertainties. Investors should note that many factors, as more fully described under the caption "Risk Factors" and elsewhere in SWK's Form 10-K, Form 10-Q and Form 8-K filings with the Securities and Exchange Commission and as otherwise enumerated herein, could affect the Company's future financial results and could cause actual results to differ materially from those expressed in such forward-looking statements. The forward-looking statements in this press release are qualified by these risk factors. These are factors which, individually or in the aggregate, could cause the Company's actual results to differ materially from expected and historical results. You should not place undue reliance on any forward-looking statements, which speak only as of the date they are made. We assume no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise.

View original content:https://www.prnewswire.com/news-releases/swk-holdings-appoints-jerry-albright-to-board-of-directors-301773310.html

SOURCE SWK Holdings Corporation

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

Who is Jerry Albright and why was he appointed to SWK Holdings' Board?

Jerry Albright was appointed to replace Wendy DiCicco on SWK Holdings' Board due to his extensive investment and banking experience.

What experience does Jerry Albright bring to SWK Holdings?

Albright has a background in investment management and held multiple senior roles at the Teacher Retirement System of Texas.

What impact could Jerry Albright's appointment have on SWK Holdings?

His appointment could strengthen SWK's governance and strategic direction in targeting financing solutions for healthcare companies.

When did Jerry Albright officially join the Board of SWK Holdings?

Jerry Albright officially joined the Board on March 15, 2023.