Welcome to our dedicated page for Runway Growth Finance news (Ticker: RWAY), a resource for investors and traders seeking the latest updates and insights on Runway Growth Finance stock.
Runway Growth Finance Corp. (Nasdaq: RWAY) is a specialty finance company dedicated to providing senior secured loans to high-growth-potential companies across a variety of industries including technology, life sciences, healthcare information and services, business services, and select consumer services and products. The company leverages its capital, as well as relationships and expertise, to help dynamic companies achieve their fullest potential.
Founded in 2015 and managed by Runway Growth Capital LLC, an established registered investment advisor led by industry veteran David Spreng, Runway Growth is a closed-end investment fund regulated as a business development company under the Investment Company Act of 1940. With a robust portfolio primarily concentrated in the United States, but also featuring investments in Germany and Canada, Runway Growth focuses on late- and growth-stage businesses that seek an alternative to raising equity.
Runway Growth's recent achievements include a strategic joint venture with Cadma Capital Partners LLC to form Runway-Cadma I LLC, aimed at financing private and sponsor-backed late- and growth-stage companies with a financing capacity of up to $200 million. This collaboration is set to enhance asset origination and deliver quality returns while maintaining excellent credit quality.
In 2023, Runway Growth reported a total investment income of $39.2 million for the fourth quarter, compared to $36.5 million in the same period in 2022. Despite a challenging economic environment, the company maintained industry-leading credit quality and expanded its return on equity by 33 basis points. As of December 31, 2023, the company's investment portfolio had an aggregate fair value of approximately $1.0 billion.
Looking ahead, Runway Growth continues to focus on prudently deploying capital to support high-quality, late-stage companies. With approximately $319.9 million in available liquidity as of March 31, 2024, the company is well-positioned to execute against its long-term growth strategy and deliver sustainable shareholder value.
Runway Growth's commitment to providing flexible capital solutions is underscored by its disciplined approach to portfolio management and consistent partnership with borrowers. The company’s leadership in the venture debt ecosystem and strategic growth initiatives make it a significant player in the specialty finance sector.
Runway Growth Capital LLC has appointed Rachel Goldstein as Senior Vice President of Growth, aimed at enhancing deal flow and operational efficiency. Reporting to Mark Donnelly, Goldstein's role focuses on improving the sales funnel and implementing best practices to streamline origination efforts. With her prior experience at Lighter Capital, where she led significant growth in capital deployment, she is expected to leverage her skills to connect growth-stage companies with suitable capital sources. This strategic appointment is part of Runway's mission to support passionate entrepreneurs.
Runway Growth Capital announced a $75 million senior secured term loan to VertexOne, a leader in SaaS solutions for utilities in North America. This funding supports VertexOne's growth as it provides essential technology-driven services like Customer Information Systems and Mobile Workforce Management. Runway's Managing Director emphasized the rising interest in flexible debt solutions among private equity-backed companies, highlighting Runway's capability to structure loans tailored for growth opportunities. VertexOne's CEO expressed confidence in Runway's understanding of their market needs.
Runway Growth Finance Corp. (Nasdaq: RWAY) announced a rescheduled time for its fourth quarter and fiscal year 2021 financial results conference call, now set for March 3, 2022, at 3:00 p.m. PT (6:00 p.m. ET). The call will provide insights into the company's financial performance for the year. Participants can join by calling (844) 467-7753 and referencing conference ID 3790578, or through a live webcast available on the company's investor website for 90 days post-call.
Runway Growth Finance Corp. (Nasdaq: RWAY) will release its financial results for Q4 2021 and fiscal year 2021 on March 3, 2022, after market close. A conference call to discuss these results is scheduled for 2:00 p.m. PT (5:00 p.m. ET). Interested parties can join the call by dialing (844) 467-7753 or by accessing a live webcast on the company's investor website. Runway Growth specializes in providing flexible capital solutions to late-stage companies seeking alternatives to equity financing, regulated under the Investment Company Act of 1940.
Runway Growth Finance Corp. (RWAY) reported significant achievements in Q4 2021, recording a loan origination volume of $216 million for the quarter and $563 million for the year. Total loan commitments reached $1.4 billion with $1.2 billion funded since inception. The company completed six investments, including major loans to VertexOne, Epic IO, and Dejero Labs. Additionally, liquidity events totaled $103.2 million, driven by prepayments from Credit Sesame and refinancings from INRIX and Allurion, highlighting successful capital deployment and growth strategies.
Runway Growth Capital has secured a senior term loan commitment of $65 million to Snagajob, the largest marketplace for hourly jobs in the U.S. This investment aims to enhance Snagajob's technology and market presence. The partnership allows Snagajob to refinance existing facilities and acquire additional capital to meet growing demand in the evolving job market. Runway, a lender to fast-growing companies, continues to expand its venture debt portfolio amidst a trend where businesses opt for debt financing to avoid equity dilution.
Runway Growth Finance Corp. (RWAY) announced the issuance of $70 million in 4.25% Series 2021A Senior Notes, due 2026. The initial closing of $20 million occurred on December 10, 2021, with the remaining $50 million expected by February 10, 2022. Proceeds will be used for debt repayment and strategic investments. CEO David Spreng stated this offering enhances liquidity and financial flexibility, positioning the company for growth in 2022. The notes are offered solely to institutional accredited investors and will not be registered under the Securities Act.
Runway Growth Finance Corp. (Nasdaq: RWAY) announced a private placement of $70 million in 4.25% Senior Notes due 2026. The first closing of $20 million is anticipated on December 10, 2021, followed by a second closing of $50 million around February 10, 2022. Proceeds may be used to repay debt, invest in companies, or for general corporate purposes. The notes are not registered under the Securities Act and will be offered only to accredited institutional investors. Runway Growth specializes in providing flexible capital solutions to late-stage and growth companies.
Runway Growth Finance Corp. (RWAY) reported strong financial results for Q3 2021, with a net investment income of $10.7 million or $0.32 per share. The company raised $100 million from its IPO in October 2021, funding six investments totaling $101.3 million. The portfolio yield on debt investments was 15.3%, and the net asset value stood at $14.60 per share. A quarterly dividend of $0.25 per share was declared, marking the fifteenth consecutive distribution. As of September 30, 2021, total assets were valued at $504.2 million.
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