SWK Holdings Corporation (NASDAQ:SWKH) Q2 2023 Earnings Call Transcript

Jody Staggs : Initially, I think the answer is yes. So therefore, a period of time, capital was really scarce. I think — and actually, we’ve got one of our signed term sheets is a refi from SVB. And we’re speaking — I think my colleagues are speaking with another situation now, which again is another SVB situation when they’ve got an SVB facility. So I think we have seen those opportunities. Now, I mean, SBV, a lot of those professionals now have moved on, and I think they’re really active. If you look at First Citizens and some of these people, they’re getting back out there. So there definitely has been an opportunity, particularly in the smaller side where we play a lot in some of the less sponsor-backed channels. I gather the new owner of SVB and some of the places the banks where those folks are going, they’re probably moving up the quality spectrum.

So yes, it is an opportunity. I think it’s not sort of the flood that we thought we might see when SVB and Signature went under, if that makes sense.

Operator: It appears there are no further questions. This concludes our question-and-answer session. I would like to turn the conference back over to Jody Staggs for any closing remarks.

Jody Staggs : Appreciate everyone speaking again. Hopefully, we’ve expressed the excitement we feel for what we’ve achieved so far this year and the opportunities ahead. Again, appreciate your support in dialing in, and feel free to reach out to myself, Yvette or the Tiberend team and if you have any questions. Hope you have a good evening. Buh-bye.

Operator: The conference has now concluded. Thank you for attending today’s presentation. You may now disconnect.