Company: SWKH
Filing Date: 2025-10-10
Form Type: 425
Source: 0001552781-25-000322
Chunk: 7

Company: SWK Holdings Corp
Filing Date: 2025-10-10
Form: 425
Chunk 7
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 the transactions contemplated thereby is subject to and qualified in its entirety by reference to the Merger Agreement, a copy of
which is attached hereto as Exhibits 2.1, and the terms of which are incorporated herein by reference.

The Merger Agreement has been attached as an exhibit
to this Current Report on Form 8-K in order to provide investors and security holders with information regarding its terms. It is not
intended to provide any other financial information about the parties thereto or their respective subsidiaries and affiliates. The Merger
Agreement contains representations, warranties, covenants and agreements that were made only for purposes of the Merger Agreement and
as of specific dates; were solely for the benefit of the parties to the Merger Agreement (except as may be expressly set forth in the
Merger Agreement); may be subject to limitations agreed upon by the parties, including being qualified by confidential disclosures made
for the purposes of allocating contractual risk between the parties to the Merger Agreement instead of establishing these matters as facts;
and may be subject to standards of materiality applicable to the contracting parties that differ from those applicable to investors. Investors
and security holders should not rely on such representations, warranties, covenants or agreements, or any descriptions thereof, as characterizations
of the actual state of facts or condition of any of the parties to the Merger Agreement or any of their respective subsidiaries or affiliates.
Moreover, information concerning the subject matter of the representations, warranties, covenants and agreements may change after the
date of the Merger Agreement, which subsequent information may or may not be fully reflected in public disclosures by the parties to the
Merger Agreement.

Key Stockholder Agreement

Concurrently with the execution and delivery of the
Merger Agreement, and as a condition and inducement to Parent’s willingness to enter into the Merger Agreement, Double Black Diamond
Offshore Ltd. (the “Key Stockholder”), a stockholder of the Company, has entered into a key stockholder agreement with Parent
(the “Key Stockholder Agreement”) pursuant to which the Key Stockholder has, subject to the terms and conditions thereof,
agreed, among other things, to vote its shares of Company Common Stock in favor of the adoption of the Merger Agreement and the approval
of the transactions contemplated thereunder, including the First Merger. As of October 9, 2025, the Key Stockholder held approximately
69.9% of the voting power of the Company Common Stock.

The foregoing