Runway Growth Finance Corp. Prices Offering of 7.00% Notes due 2029

Runway Growth Finance (Nasdaq:RWAY) priced an underwritten public offering of $50 million 7.00% notes due 2029, expecting approximately $48.4 million in net proceeds.

Rhea-AI Summary

Runway Growth Finance (Nasdaq:RWAY) priced an underwritten public offering of $50 million 7.00% notes due 2029, expecting approximately $48.4 million in net proceeds. The notes mature on December 1, 2029, pay 7.00% interest semi-annually, and are redeemable at the company’s option on or after June 1, 2029.

Runway Growth plans to use proceeds to repay indebtedness under its $410 million credit facility and for general corporate purposes. Oppenheimer & Co. is sole book-running manager, with BC Partners Securities as co-manager. Closing is expected on May 29, 2026, subject to customary conditions.

Positive

• Priced $50 million aggregate principal amount of notes due 2029
• Net proceeds of approximately $48.4 million after fees and expenses
• 7.00% fixed interest rate with semi-annual payments through 2029
• Proceeds earmarked to repay part of $410 million credit facility
• Extends portion of funding to December 1, 2029 maturity

Negative

• New $50 million notes create fixed 7.00% interest obligations to 2029
• Credit facility balance remains substantial at $410 million outstanding before repayment

Argus May 29 session

-0.92% close to close Open Argus

Details

News Market Reaction – RWAY

On May 29, the first trading day after this news, RWAY closed 0.92% below the previous close.

Data tracked by StockTitan Argus for the May 29 session.

Key Figures

Notes offering size: $50.0 million Net proceeds: $48.4 million Coupon rate: 7.00% per year +5 more

Notes offering size

$50.0 million

Aggregate principal amount of notes due 2029

Net proceeds

$48.4 million

Estimated net proceeds after underwriting discounts and expenses

Coupon rate

7.00% per year

Interest rate on notes due 2029, paid semi-annually

Maturity date

December 1, 2029

Stated maturity of the notes

Minimum denomination

$2,000

Minimum principal amount per note

Denomination increments

$1,000

Integral multiples above the $2,000 minimum

Credit facility balance

$410.0 million

Aggregate principal amount outstanding as of May 27, 2026

Credit facility margin

2.95%–3.35%

Spread over adjusted term SOFR based on leverage and collateral pool

Previous Offering Reports

1 past event · Latest: Jan 27

Same Type 1 event

1. Jan 27

   Notes offering

   24h Move

   +0.4%

   Priced $100M of 7.25% notes due 2031 to refinance higher-cost debt.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

underwritten public offering, net proceeds, credit facility, secured overnight financing rate, +1 more

5 terms

underwritten public offering financial

"it has priced an underwritten public offering of $50.0 million aggregate..."

An underwritten public offering is when a company sells new shares of its stock to the public with the help of a financial firm, called an underwriter. The underwriter agrees to buy all the shares upfront, reducing the company's risk, and then sells them to investors. This process helps companies raise money quickly and confidently from a wide range of buyers.

net proceeds financial

"which will result in net proceeds to the Company of approximately $48.4 million..."

The amount of money a company actually keeps from a sale or fundraising after paying all direct costs and fees, similar to take-home pay after taxes and deductions. Investors care because net proceeds determine how much cash is available for things that affect value—paying debt, funding projects, buying assets, or returning money to shareholders—so it influences future growth potential and financial health.

credit facility financial

"The Company intends to use the net proceeds from this offering to repay outstanding indebtedness under its Credit Facility..."

A credit facility is a flexible loan arrangement that allows a borrower to access funds up to a set limit whenever needed, similar to a company having an overdraft option on a bank account. It matters to investors because it indicates how easily a business can secure cash when required, affecting its ability to manage expenses, invest, or respond to financial challenges.

secured overnight financing rate financial

"bear interest on a per annum rate equal to the adjusted term Secured Overnight Financing Rate plus an applicable margin..."

A secured overnight financing rate (SOFR) is a daily benchmark interest rate that reflects the cost of borrowing cash overnight using U.S. Treasury securities as collateral. Think of it as the market price to “rent” cash for a day with a very safe pledge, similar to paying a short-term rental fee for money backed by government bonds. Investors track SOFR because it underpins pricing for loans, bonds and derivatives, so movements change borrowing costs, interest income and the valuation of interest-rate–linked positions.

free writing prospectus regulatory

"The free writing prospectus dated May 27, 2026, which has been filed with the Securities and Exchange Commission..."

A free writing prospectus is any written communication about a public securities offering that supplements the formal registration document and is delivered to potential investors without being filed in full in the official registration statement. It matters because it can include up-to-the-minute details, risks, or projections that affect how investors value the offering—think of it as a real-time update or flyer that adds important context beyond the static, formal brochure.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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MENLO PARK, Calif., May 28, 2026 (GLOBE NEWSWIRE) -- Runway Growth Finance Corp. (Nasdaq: RWAY) (“Runway Growth” or the “Company”), a leading provider of flexible capital solutions to late and growth-stage companies seeking an alternative to raising equity, today announced that it has priced an underwritten public offering of $50.0 million aggregate principal amount of notes due 2029 (the “Notes”), which will result in net proceeds to the Company of approximately $48.4 million after payment of underwriting discounts, commissions, and after deducting expenses payable by the Company related to this offering. The Notes will mature on December 1, 2029 and may be redeemed in whole or in part at any time or from time to time at the Company’s option on or after June 1, 2029. The Notes will be issued in minimum denominations of $2,000 and integral multiples of $1,000 in excess thereof and will bear interest at a rate of 7.00% per year, payable semi-annually on each June 1 and December 1, commencing on December 1, 2026. The offering is expected to close on May 29, 2026, subject to customary closing conditions.

The Company intends to use the net proceeds from this offering to repay outstanding indebtedness under its Credit Facility and for our general corporate purposes. As of May 27, 2026, the Company had $410.0 million aggregate principal amount outstanding under the Credit Facility. Borrowings under the Credit Facility bear interest on a per annum rate equal to the adjusted term Secured Overnight Financing Rate plus an applicable margin rate that ranges from 2.95% to 3.35% per annum depending on the Company’s leverage ratio and number of loans in the collateral pool.

Oppenheimer & Co. Inc. is acting as sole book-running manager and BC Partners Securities, LLC is acting as co-manager of this offering.

Investors are advised to carefully consider the investment objectives, risks and charges and expenses of the Company before investing. The free writing prospectus dated May 27, 2026, which has been filed with the Securities and Exchange Commission (the “SEC”), contain this and other information about the Company and should be read carefully before investing.

To obtain a copy of the effective shelf registration statement on file with the SEC and the prospectus supplement for this offering, please contact: Oppenheimer & Co. Inc., 85 Broad Street, 23rd Floor, New York, New York 10004, or by telephone at (800) 966 1559.

This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities in this offering or any other securities nor will there be any sale of these securities or any other securities referred to in this press release in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state or jurisdiction.

About Runway Growth Finance Corp.

Runway Growth is a specialty finance company focused on providing flexible capital solutions to late- and growth-stage companies seeking an alternative to raising equity. Runway Growth is a closed-end investment fund that has elected to be regulated as a business development company under the Investment Company Act of 1940, as amended. Runway Growth is externally managed by Runway Growth Capital LLC, an affiliate of BC Partners Advisors L.P., and led by industry veteran David Spreng. For more information, please visit www.runwaygrowth.com.  

Forward-Looking Statements

Statements included herein may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Statements other than statements of historical facts included in this press release may constitute forward-looking statements, including statements regarding our intentions related to the offering discussed in this press release and the use of proceeds from the offering, and are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results may differ materially from those in forward-looking statements as a result of a number of factors, including those described from time to time in Runway Growth’s filings with the SEC. Runway Growth undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.

IR Contacts:

Taylor Donahue, Prosek Partners, rway@prosek.com

Thomas B. Raterman, Chief Financial Officer and Chief Operating Officer, tr@runwaygrowth.com

Source: Runway Growth Finance Corp.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What are the key terms of Runway Growth Finance (RWAY) 7.00% notes due 2029?

Runway Growth Finance’s notes are $50 million in aggregate principal, bearing 7.00% annual interest and maturing on December 1, 2029. According to Runway Growth, interest is payable semi-annually each June 1 and December 1, starting December 1, 2026, in $2,000 minimum denominations.

How will Runway Growth Finance (RWAY) use the proceeds from the 2029 notes offering?

Runway Growth Finance plans to use net proceeds to repay outstanding indebtedness under its credit facility and for general corporate purposes. According to Runway Growth, the offering should generate approximately $48.4 million in net proceeds after underwriting discounts, commissions, and offering expenses.

When do the Runway Growth Finance (RWAY) 7.00% notes due 2029 mature and become callable?

The notes mature on December 1, 2029 and are redeemable at Runway Growth’s option on or after June 1, 2029. According to Runway Growth, the company may redeem the notes in whole or in part, from time to time, after this call date.

What is the expected closing date of Runway Growth Finance (RWAY) 7.00% notes offering?

The notes offering is expected to close on May 29, 2026, subject to customary closing conditions. According to Runway Growth, Oppenheimer & Co. is acting as sole book-running manager and BC Partners Securities is co-manager for this underwritten public offering.

How does the new Runway Growth Finance (RWAY) notes offering relate to its existing credit facility?

Runway Growth intends to use offering proceeds to repay a portion of its credit facility borrowings. According to Runway Growth, the company had $410 million outstanding under the credit facility as of May 27, 2026, which bears interest at adjusted term SOFR plus a margin.

What are the interest payment details on Runway Growth Finance (RWAY) 7.00% notes due 2029?

The notes carry a 7.00% per year coupon, with interest paid semi-annually each June 1 and December 1. According to Runway Growth, interest payments commence on December 1, 2026, and the notes are issued in $2,000 minimum denominations plus $1,000 increments.