Business
Runway Growth Finance Corp. Prices $70 million 4.25% Series 2021A Senior Notes Due 2026
WOODSIDE, Calif., Nov. 18, 2021 (GLOBE NEWSWIRE) -- Runway Growth Finance Corp. (Nasdaq: RWAY) (“Runway Growth”), an externally managed business development
About this update from Runway Growth Finance Corp.
[{"type":"text","content":"WOODSIDE, Calif., Nov. 18, 2021 (GLOBE NEWSWIRE) -- Runway Growth Finance Corp. (Nasdaq: RWAY) (“Runway Growth”), an externally managed business development company, today announced that it has priced a private placement of $70 million in aggregate principal amount of 4.25% Series 2021A Senior Notes due 2026 (the “ 2026 Senior Notes”). The 2026 Senior Notes have been offered only to institutional accredited investors (as defined in Regulation D under the Securities Act of 1933, as amended (the “Securities Act”)) in reliance on Section 4(a)(2) of the Securities Act. The 2026 Senior Notes are expected to be delivered and paid for at two closings (each a “Closing”). The first Closing, in respect of $20 million aggregate principal amount of 2026 Senior Notes, is expected to occur on December 10, 2021 and the second Closing, in respect of $50 million in aggregate principal amount of 2026 Senior Notes, is expected to occur on or about February 10, 2022. Each Closing is subject to customary closing conditions. The 2026 Senior Notes will bear an interest rate of 4.25% per year, payable semiannually, and will mature on December 10, 2026. Runway Growth may use the net proceeds of the private placement to repay outstanding indebtedness, make investments in accordance with the Runway Growth’s investment objective and investment strategy and for other general corporate purposes. The 2026 Senior Notes have not been registered under the Securities Act, or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from such registration requirements. This press release is neither an offer to sell nor a solicitation of an offer to buy the 2026 Senior Notes and will not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful. Any offers of the 2026 Senior Notes will be made only by means of a private offering memorandum. This press release is being issued pursuant to and in accordance with Rule 135c under the Securities Act. About Runway Growth Finance Corp. Runway Growth is a growing specialty finance company focused on providing flexible capital solutions to late-stage and growth companies seeking an alternative to raising equity. Runway Growth is a closed-end investment fund that has elected to be regulated as a busines...