Runway Growth Finance Corp. - RWAY STOCK NEWS

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.

Runway Growth Capital and Skyview Capital have announced a significant growth investment in Fidelis Cybersecurity, aimed at enhancing its cyber solutions for commercial, enterprise, and government clients. This investment will support Fidelis' product development, operational infrastructure, and growth initiatives in the high-demand cybersecurity market. The company's innovative XDR solutions are trusted by many top organizations, with strong backing from the government and a reputation for low client churn. This reaffirms Runway's commitment to Fidelis, which has been part of its portfolio since May 2021.

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.