Runway Growth Finance Corp. · NASDAQ:RWAY
Runway Growth Finance — Merger or Acquisition (October 2025)
12 slides from Runway Growth Finance's merger presentation, October 2025
Slide 1: Overview of Proposed Acquisition of SWK Holdings
Runway Growth Finance Corp. Overview of Proposed Acquisition of SWK Holdings NASDAQ Listed I RWAY I RWAYL I RWAYZ October 2025 © Runway Growth Capital LLC 2025
Slide 2: Forward-looking Statements
Forward-looking Statements This presentation dated October 2025 is being provided by Runway Growth Finance Corp. (“Runway Growth” or the “Company”) for discussion purposes only and is neither an offer to sell, nor a solicitation of an offer to purchase, an interest in the Company. It is solely inten
Slide 3: Forward-looking Statements (cont.)
Forward-looking Statements (cont.) No Offer or Solicitation This presentation is not, and under no circumstances is it to be construed as, a prospectus or an advertisement and the communication of this presentation is not, and under no circumstances is it to be construed as, an offer to sell or a so
Slide 4: What we’re announcing
What we’re announcing This transaction advances Runway Growth’s strategy to: Runway Growth Finance Corp. (NASDAQ: RWAY) + Optimize our portfolio through diversification and scale has entered into a definitive merger + Expand in attractive industry agreement with SWK sectors like healthcare and life
Slide 5: Transaction Overview
Transaction Overview • NAV-for-NAV merger structured as tax free reorganization Price & Structure • Estimated Purchase Price1: ~ $220 million • ~$145M in cash, $75.5M in RWAY shares valued at closing NAV/share (~15% of RWAY’s shares today2) Consideration1 • $9M in cash payment from Runway Growth Cap
Slide 6: SWK Overview
SWK Overview Background • SWK Holdings Corporation is a life science-focused specialty finance company that provides minimally dilutive financing to small- and mid-sized commercial-stage healthcare companies to fuel the development and commercialization of medical technologies and products • SWK inv
Slide 7: Strategic Rationale
Strategic Rationale Expands position and Drives portfolio scale investment and diversification capabilities in through high quality healthcare and life complementary 1 2 sciences sector portfolio Positions Runway Growth to execute on 3 4 Enhances Runway Growth’s financial organic and inorganic profi
Slide 8: Expands position and investment capabilities in healthcare and life sciences
1 Expands position and investment capabilities in healthcare and life sciences sector Runway Growth Capital has been active in the healthcare and life sciences markets since early 2020. The percentage of the RWAY portfolio in these markets stood at 14% at the end of Q2-2025. The acquisition of SWK s
Slide 9: Drives portfolio scale and diversification
2 Drives portfolio scale and diversification through high quality complementary portfolio The acquisition of SWK’s portfolio adds high quality, complementary investments to Runway’s existing robust structure and meaningfully reduces the company’s average loan size. SWK1 RWAY1 Combined Entity2 At Fai
Slide 10: Positions Runway Growth to execute on organic and inorganic growth strategies
3 Positions Runway Growth to execute on organic and inorganic growth strategies Our platform is establishing the infrastructure for multi-faceted growth: ORGANIC INORGANIC In the last 12 months Runway has: This transaction demonstrates that Runway: Enhanced financing solutions Represents a desti
Slide 11: Enhances Runway Growth’s financial profile
4 Enhances Runway Growth’s financial profile Enhanced scale expected to drive further RWAY + fixed cost absorption Runway Growth Finance + Portfolio Expansion + Operational Efficiency anticipates the acquisition to Increased scale and growth Driven by enhanced scale in key sectors generate mid singl
Slide 12: Please contact us with any questions or comments.
Please contact us with any questions or comments. investors@runwaygrowth.com
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