Company: SWKH
Filing Date: 2025-12-04
Form Type: 425
Source: 0001552781-25-000440
Chunk: 0

Company: SWK Holdings Corp
Filing Date: 2025-12-04
Form: 425
Chunk 0
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<div align='center'>UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of Earliest Event Reported): December 2, 2025

SWK HOLDINGS CORPORATION

(Exact Name of the Registrant as Specified in Its Charter)

Delaware

(State or Other Jurisdiction of Incorporation)</div>

| 001-39184                                |                       77-0435679 |
| (Commission File Number)                 | -IRS Employer Identification No. |
| 5956 Sherry Lane, Suite 650, Dallas, TX  |                            75225 |
| (Address of Principal Executive Offices) |                        -Zip Code |

<div align='center'>(972) 687-7250

(Registrant’s Telephone Number, Including Area Code)</div>

Check the appropriate box below
if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

| ☒ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)                  |
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)                 |
| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |

Securities registered pursuant to Section 12(b) of
the Act:

| Title of each class         | Trading   
 Symbol(s) | Name of each exchange on    
 which registered            |
| Common Stock, par value     
 $0.001 per share            | SWKH      | The Nasdaq Stock Market LLC |
| 9.00% Senior Notes due 2027 | SWKHL     | The Nasdaq Stock Market LLC |

Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the
Securities Exchange Act of 1934 (§