News Releases
Yvette Heinrichson promoted to Chief Financial Officer
John David Tamas promoted to Director of Underwriting
DALLAS, Oct. 3, 2022 /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 the company has promoted Yvette Heinrichson to the role of Chief Financial Officer. Ms. Heinrichson was previously SWK's Chief Accounting Officer. SWK has also promoted John David ("J.D.") Tamas to Director of Underwriting, a newly created position at the company, and has hired Joe Moyer as an Associate.
As CFO, Ms. Heinrichson will lead SWK's financial reporting and accounting activities as well as assist President and Interim CEO, Jody Staggs, with capital markets initiatives. Ms. Heinrichson replaces Charles Jacobson, who held the position of Chief Financial Officer on an outsourced basis since 2012.
"Yvette's operational excellence, attention to detail, and accounting knowledge combined with her understanding of financial strategy make her ideally suited to be our new CFO. Bringing the CFO function in-house via a talented executive such as Yvette provides SWK with additional skills and resources to pursue key initiatives, including optimizing our capital structure and streamlining processes required to support financing receivables growth," said Mr. Staggs.
Mr. Staggs continued: "I would like to extend my sincerest gratitude to Charles Jacobson for his role in building SWK. He has been a valued member of our leadership team since SWK's inception, and we wish him the best."
"This is a time of great optimism at SWK, as our underlying business fundamentals are strong, and current market conditions are ideal for our tailored financing solutions," stated Ms. Heinrichson. "I am excited and honored to be SWK's new CFO and am eager to work closely with Jody and the Board to lead SWK into its next phase of value creation."
Mr. Staggs commented, "J.D. has an extensive credit background, and his enhanced role will allow SWK to increase underwriting throughput while maintaining strict credit standards. He is a valuable member of our leadership team, and I'm pleased he is being recognized for his contributions to SWK."
Ms. Heinrichson, who joined SWK in 2016 as Controller, has held the position of Chief Accounting Officer since May 2020. Prior to SWK, she provided technical GAAP accounting, SEC financial reporting, SOX implementation and process improvement services for many start-up and multinational public companies in industries including, healthcare/bioscience, technology, real estate and manufacturing. Ms. Heinrichson has participated in multiple initial public offerings and capital raises, as well as M&A due diligence and post-merger integration. She began her career at Deloitte as a tax professional and financial statement auditor of large, accelerated filers. She holds a B.S. in Business Administration from San Francisco State University, as well as the Certified Fraud Examiner (CFE) certification, and is a Certified Public Accountant (CPA) registered in the state of California.
Mr. Tamas was promoted to Director of Underwriting after joining SWK in February 2022 as a Director. He was previously Vice President at NXT Capital / ORIX Leveraged Finance, where he focused principally on providing stretch and unitranche credit to private equity sponsors in the lower- and middle- markets. Prior to that, Mr. Tamas worked for Cotton Creek Capital, a middle-market private equity firm. He began his career at Wachovia / Wells Fargo Securities within the Leveraged Finance Division. Mr. Tamas earned a BS degree in Finance, with Honors, from the University of Arkansas and an MBA in Finance, with Honors, from the Wharton School of the University of Pennsylvania.
Mr. Moyer joined SWK as an Associate in September 2022. Prior to joining SWK, he was an Investment Banking Analyst at Cowen & Company in their healthcare group. During his time at Cowen, Mr. Moyer worked on a variety of sell-side transactions, including multiple successful IPOs, follow-ons, private placements, and at-the-market offerings within the biotech and broader healthcare industry. Prior to that, Mr. Moyer interned at Elm Park Capital Management, a middle-market private credit firm. Mr. Moyer earned a B.A. degree in Finance from Southern Methodist University.
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, and typically range 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.
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.
SOURCE SWK Holdings Corporation
