Runway Growth Finance Prices $50M Debt Offering at 7.00% Due 2029
Summary
Runway Growth Finance Corp. has priced a $50 million public offering of 7.00% notes due 2029. This follows an FWP filing yesterday that indicated the company had finalized a debt offering with similar terms, with proceeds intended for debt repayment. The $50 million debt raise is material for a company with a market cap of approximately $277 million. Securing this financing helps manage its capital structure, especially given its recent financial performance, including significant net losses and declining net asset value, with the stock trading near 52-week lows.
At the time of this announcement, RWAY was trading at $6.53 on NASDAQ in the Finance sector, with a market capitalization of approximately $277.3M. The 52-week trading range was $6.22 to $11.41. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Reuters.