Runway Growth Finance Corp. Stock Price, News & Analysis

Runway Growth Finance Corp. (Nasdaq: RWAY) has expanded its revolving credit facility, increasing total commitments to $500 million from KeyBank Specialty Finance, CIBC Bank USA, and other lenders. The credit facility, which has a maturity date of April 20, 2026, allows borrowings with interest based on the Adjusted Term SOFR plus a margin of 2.95% to 3.35% depending on the company's leverage. CFO Tom Raterman emphasized that this expansion enhances liquidity and positions the company to meet demand for creative financing solutions, maintaining over $200 million in available liquidity. KeyBank expressed its commitment to supporting Runway Growth's mission in the venture debt market.

Runway Growth Finance Corp. (NASDAQ: RWAY) has announced the release date for its first quarter 2023 financial results, set for May 9, 2023, after the market closes. The company will hold a conference call at 2:00 PM PT (5:00 PM ET) to discuss the results. Participants can register for the call on the Runway Growth Investor Relations website and are encouraged to register in advance. Runway Growth specializes in providing flexible capital solutions to late- and growth-stage companies, positioning itself as a viable alternative to equity financing. The firm is externally managed by Runway Growth Capital LLC, established in 2015. Forward-looking statements in the press release caution potential risks including market volatility and the impact of COVID-19.

Runway Growth Finance Corp. (Nasdaq: RWAY) completed seven investments worth $12.9 million into its portfolio during the first quarter of 2023, signaling a strong commitment to late-stage growth companies. Among these investments are notable contributions to Brivo Systems and Epic IO Technologies, enhancing their growth potential. The company reported net originations of $2.8 million and experienced liquidity events amounting to $10.2 million. Despite economic uncertainties, Runway Growth maintains a focus on senior secured loans and aims to provide minimally dilutive capital. With a portfolio consisting of 59 debt and 55 equity investments, the firm emphasizes strong communication with portfolio companies to navigate market challenges effectively.

Runway Growth Finance Corp. (Nasdaq: RWAY) has provided a business update following the recent events surrounding Silicon Valley Bank (SVB). Key points include the full protection of SVB depositors by the Treasury and Federal Reserve, positively impacting Runway's portfolio companies. The company emphasizes its focus on late-stage companies and a 99% concentration in first lien loans, which safeguards investors from potential risks related to second lien lenders. Runway Growth holds no deposits or loans with SVB, allowing it to navigate market challenges effectively. The management believes their strategy will continue to yield non-dilutive growth and returns for shareholders.

Runway Growth Finance Corp. (Nasdaq: RWAY) reported record financial results for the fourth quarter and fiscal year ended December 31, 2022, with net investment income of $18.4 million and $59.8 million respectively. The company's investment portfolio grew to $1.1 billion, with a dollar-weighted annualized yield on debt investments of 15.5%. The company declared a dividend of $0.40 per share for Q1 2023, an 11% increase quarter-over-quarter, alongside a supplemental dividend of $0.05 per share. The core leverage ratio of the portfolio rose to 97%, reflecting a prudent deployment of leverage to maximize shareholder returns.

Runway Growth Finance Corp. (RWAY) has declared a first-quarter 2023 cash distribution of $0.40 per share, marking an 11% increase over the prior quarter's base dividend. This announcement represents the fifth consecutive quarterly increase since its public listing. Additionally, a supplemental dividend of $0.05 per share has also been declared, with intentions to maintain similar supplemental dividends throughout 2023, subject to Board approval. Key dates include the declaration date on February 23, 2023, record date on March 7, 2023, and payment date on March 21, 2023.

Runway Growth Capital has finalized a $50 million senior secured term loan to Madison Reed, a digitally enabled hair color brand. The capital will be used for customer acquisition and expanding retail channels, enhancing Madison Reed's network of over eighty hair color bars. The funding is projected to aid the company's growth without diluting equity, appealing to Madison Reed's CEO, Amy Errett. Runway's loan commitment demonstrates confidence in Madison Reed's successful omni-channel distribution, which encompasses direct-to-consumer subscriptions and retail partnerships.

Runway Growth Finance Corp. (RWAY) announced it will release its fourth quarter and full year 2022 financial results after market close on March 2, 2023. A conference call is scheduled for the same day at 3:00 p.m. PT (6:00 p.m. ET) to discuss these results. Investors can register for the call online and access the webcast. Runway Growth focuses on providing flexible capital solutions to late- and growth-stage companies, acting as a closed-end investment fund regulated as a business development company.

Forward-looking statements in the release highlight risks including COVID-19 impacts and market volatility.