Runway Growth Finance Corp. Stock Price, News & Analysis

Runway Growth Capital has appointed Brannon Morisoli as Managing Director, Life Sciences, effective August 16, 2022. Morisoli will drive investments and debt capital solutions in the life sciences sector, leveraging his extensive industry experience and connections. He previously served as Director at SWK Holdings and has a solid academic background, including degrees from UCLA and Notre Dame. Runway aims to strengthen its focus on life sciences with Morisoli's expertise.

Runway Growth Capital has appointed Ted Cavan as Managing Director of Technology, bringing over a decade of experience in funding high-growth technology companies. Cavan will operate from Boston and focus on late and growth-stage technology firms, particularly in enterprise software. He previously held senior roles at Stifel and TriplePoint Capital, where he was involved in sourcing and managing senior debt investments. His expertise in venture and growth debt is expected to enhance Runway's capital deployment strategy in the Northeast market.

Runway Growth Finance Corp. (RWAY) reported record total investment income of $25.2 million and net investment income of $14.5 million for Q2 2022. The investment portfolio reached $807.7 million, reflecting a strategic growth approach. Core leverage ratio increased to 40.2%, and a dividend of $0.33 per share was declared, a 10% increase from the previous quarter. However, net change in unrealized depreciation on investments was $16.2 million, indicating challenges in equity valuations. Total operating expenses increased to $10.7 million.

Runway Growth Capital has appointed Brad Pritchard as Managing Director, Technology, leveraging over 20 years of experience in venture lending. Operating from Silicon Valley, he will focus on technology investments and sustainability initiatives. Pritchard previously held leadership roles at BlackRock and Hercules Capital, enhancing Runway's capabilities to support firms with flexible financing solutions. CEO David Spreng emphasized Pritchard's ability to strengthen relationships with top venture capital firms and late-stage technology companies.

Runway Growth Finance Corp. (RWAY) announced a cash distribution of $0.33 per share for Q3 2022, marking a 10% increase over the prior quarter. This represents the third consecutive quarterly increase since its listing. Key dates for the dividend include a declaration date of July 28, 2022, record date of August 9, 2022, and payment date of August 23, 2022. The company aims to distribute substantially all available earnings quarterly, with an optional dividend reinvestment plan for shareholders.

Runway Growth Finance Corp. (RWAY) announced a public offering of $70 million in notes due July 28, 2027, with net proceeds expected to be approximately $67.9 million after underwriting costs. The notes bear an interest rate of 7.50%, with the first payment set for September 1, 2022. Proceeds will be used to repay debts under a Credit Agreement and for general corporate purposes. The offering is set to close on July 28, 2022, and the notes will be listed on Nasdaq under the symbol RWAYL.

Runway Growth Finance Corp. (RWAY) announced an underwritten offering of unsecured notes, expected to be listed on the Nasdaq Global Select Market under the symbol RWAYL. Proceeds will be used to repay $163 million of existing debt under its Credit Facility with KeyBank, maturing April 20, 2026, which carries an interest rate of 5.18%. The offering will fund investments aligned with its business strategy and cover operational expenses. Joint managers for the offering include Oppenheimer & Co. Inc. and B. Riley Securities, Inc.

Runway Growth Finance Corp. (Nasdaq: RWAY) announced a record second quarter for 2022, completing nine investments totaling $200 million in commitments and $151.7 million in funded loans. The company’s total loan commitments reached $1.8 billion, with $1.4 billion funded since inception. Key investments included a $50 million loan to EBR Systems for a leadless pacemaker and $60 million to a new portfolio company focusing on security testing. Runway Growth emphasized its credit-focused approach, maintaining a stable portfolio amid economic challenges.

Runway Growth Capital announced the hiring of Jeff Goldrich as Managing Director, Technology, on July 13, 2022. Based in Chicago, Goldrich brings nearly a decade of experience in the technology sector, aiming to enhance the company’s investment pipeline. CEO David Spreng highlighted the growing deal flow amid market turbulence, indicating a need for additional expertise in sourcing top-tier growth opportunities. Goldrich's background includes significant roles in various technology sub-sectors, enhancing Runway's reputation in venture debt lending with a founder-friendly approach.