SWK Holdings Names Jody Staggs Chief Executive Officer and Appoints Laurie Dotter as Chair of the Board
SWK Holdings Corporation (Nasdaq: SWKH) has officially named Jody Staggs as Chief Executive Officer, effective January 1, 2023, following his role as interim CEO since September 2022. Staggs' leadership has already facilitated multiple financing initiatives and improvements to the company's credit facility. Additionally, Laurie Dotter has been appointed Chair of the Board, contributing her extensive experience from various investment firms. Staggs emphasized a focus on optimizing capital structure and enhancing non-dilutive financial offerings for small and mid-sized life science companies.
- Jody Staggs' promotion reflects strong leadership and successful execution of financing initiatives.
- SWK is well positioned for increased demand in non-dilutive financing in 2023.
- None.
Mr. Staggs elevated from "interim" to "permanent" CEO as SWK advances multiple initiatives in 2023
Ms. Dotter joined SWK's Board of Directors in February 2022
DALLAS, Jan. 3, 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 Jody Staggs has been named the company's Chief Executive Officer. In September 2022, Mr. Staggs was promoted to the position of President and interim Chief Executive Officer. Effective January 1, 2023, Mr. Staggs holds the titles of President and Chief Executive Officer of SWK Holdings.
Additionally, SWK has appointed Laurie Dotter as Chair of the Board of Directors. Ms. Dotter joined the Board as an independent director in February 2022 and serves on the compensation, audit, and governance committees.
"Officially elevating Jody to Chief Executive Officer of SWK is a reflection of his strong leadership following his promotion to president and interim CEO in September 2022," said Ms. Dotter. "Under Jody's direction, SWK has progressed several important initiatives, including closing multiple financings, improving the company's credit facility, and further strengthening and developing SWK's team. We are excited by SWK's prospects and look forward to working with Jody and the management team to continue growing SWK's platform with a focus on generating strong shareholder returns."
Mr. Staggs commented: "I want to thank the Board for entrusting me to lead SWK and supporting our mission to be the leader in custom financings for small and mid-sized commercial-stage life science companies. We are well positioned for what is expected to be an active 2023 based on heightened interest in our non-dilutive financial offerings. As president and CEO, I look forward to working with Laurie and our team to optimize our capital structure and continue deploying capital in opportunities where we believe strong risk-adjusted returns are likeliest."
Ms. Dotter has served in executive leadership roles in several investment companies that delivered attractive investment returns on commercial real estate operating companies, development and management companies, and portfolios requiring repositioning to enhance value. In addition to her tenure as a director at SWK, Ms. Dotter serves in advisory or board roles at the Employee Retirement System of Texas, Texas Treasury Safekeeping Trust Company, and Stratus Properties Inc. Some of her prior roles include President of Transwestern Investment Group; founding partner of Corporate Properties Trust I, II and III; executive investment officer at Hunt Oil Co.'s real estate investment arm; director of Real Estate Investments at the Teacher Retirement System of Texas; and as a Director of Financial Consulting Services at PricewaterhouseCoopers.
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
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.
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SOURCE SWK Holdings Corporation
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