Runway Growth Finance Corp. Stock Price, News & Analysis

Runway Growth Finance Corp. (Nasdaq: RWAY) announced a public offering of $45 million in notes due 2027, aiming for net proceeds of approximately $43.65 million. The notes, which will mature on December 31, 2027, will carry an interest rate of 8.00% per year, with the first payment on March 1, 2023. The offering closes on December 7, 2022. Proceeds will be used to repay debt under a Credit Facility, which had $365 million outstanding as of November 28, 2022, and for company operations. The notes will be listed on Nasdaq under the symbol RWAYZ.

Runway Growth Finance Corp. (Nasdaq: RWAY) announced an underwritten offering of unsecured notes to be listed on the Nasdaq Global Select Market. The offering's net proceeds will be used to repay $365 million in outstanding debt under its credit facility and for general corporate purposes. The interest rate for the notes will be determined at pricing. The credit facility, which has a current interest rate of 6.659%, matures on April 20, 2026. Investors are advised to consider risks and expenses before investing and should reference the preliminary prospectus for detailed information.

Runway Growth Capital has secured a $75 million senior secured credit facility for Brivo Systems, a leader in cloud-based access control technologies. This funding will support Brivo's innovative ecosystem of access control solutions critical for the PropTech sector. Brivo's SaaS platform enhances security and user experience, driving organic growth. Runway's Managing Director noted Brivo's consistent performance, while Brivo's CEO highlighted Runway's tailored approach as a key factor in their partnership.

Runway Growth Finance reported a record total investment income of $27.3 million and net investment income of $14.5 million, or $0.36 per share, for Q3 2022. The total investment portfolio grew to a record $910.2 million with a dollar-weighted annualized yield on debt investments of 14.4%. The company declared a 9% increase in its quarterly dividend to $0.36 per share, reflecting strong financial performance. As of September 30, 2022, net asset value per share was $14.12.

Kin, a direct-to-consumer home insurance provider, has successfully closed a $145 million committed credit facility led by Runway Growth Capital and the Avenue Venture Opportunities Fund. The funding will support the expansion of the Kin Interinsurance Network, with $100 million available immediately. The remaining funds will be released as Kin meets specific milestones. CEO Sean Harper stated that this upsized facility allows Kin to innovate within the $120 billion U.S. home insurance market with minimal dilution, enhancing affordability and accessibility for customers.

Runway Growth Finance Corp. (RWAY) announced a fourth quarter 2022 cash dividend of $0.36 per share, marking a 9% increase from the previous quarter and the fourth consecutive quarterly increase since its public listing. Key dates include October 27 for declaration, November 8 as the record date, and November 22 for payment. The company plans to distribute substantially all available earnings quarterly, with an optional dividend reinvestment plan for shareholders.

Runway Growth Capital has closed a senior secured term loan of $45 million to Nalu Medical, aimed at supporting the commercialization of Nalu's innovative neuromodulation devices for managing chronic neuropathic pain. This funding will enhance Nalu's commercial operations and clinical research, especially in Peripheral Nerve Stimulation and Spinal Cord Stimulation markets. The partnership provides Nalu with flexible, long-term financing to expand its market reach and address the opioid dependency issue associated with chronic pain treatments.

Runway Growth Finance Corp. (RWAY) announced it will release its third-quarter 2022 financial results on November 3, 2022, after market close. A conference call is scheduled for the same day at 3:00 p.m. PT (6:00 p.m. ET) to discuss these results. Participants can register online for the call or webcast, with a replay available two hours post-call for 90 days. Runway Growth specializes in providing flexible capital solutions to late- and growth-stage companies, positioning itself as a competitive alternative to equity financing.

Runway Growth Finance Corp. (Nasdaq: RWAY) announced significant achievements in its operational update for Q3 2022, including $216 million in new investments and $161 million in funded loans. Total loan commitments rose to $2.0 billion with $1.6 billion funded since inception. The company completed nine investments during the quarter, highlighting its position as a preferred lender for innovative growth-stage companies. Runway Growth's portfolio consists of 48 debt and 50 equity investments across various sectors, aiming to provide stable yields.