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 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.
Runway Growth Finance Corp. (RWAY) will release its Q2 2022 financial results on August 4, 2022, after market close. A conference call to discuss these results is scheduled for 3:00 p.m. PT (6:00 p.m. ET) the same day. Interested participants should register online in advance. Runway Growth specializes in providing flexible capital solutions to late- and growth-stage companies and operates as a closed-end investment fund regulated as a business development company.
Runway Growth Capital has provided a $50 million senior secured term loan to Interactions to refinance existing debt and support growth.
Interactions specializes in enterprise conversational AI and aims to enhance its Intelligent Virtual Assistant platform. The refinancing will allow Interactions to invest in R&D and operational infrastructure at a time of market volatility.
This strategic move is intended to strengthen Interactions' position in a market affected by labor shortages and increasing automation demands in customer service.
Runway Growth Finance Corp. (Nasdaq: RWAY) announced its participation in the 2022 Wells Fargo BDC Power Alley Conference. CEO David Spreng and CFO Tom Raterman will be available for virtual one-on-one meetings on June 9, 2022. Runway Growth specializes in providing flexible capital solutions for late- and growth-stage companies, offering an alternative to equity financing. The firm operates as a closed-end investment fund, regulated as a business development company under the Investment Company Act of 1940.
Runway Growth Finance Corp. (RWAY) reported a record total investment income of $19.3 million for Q1 2022, with net investment income of $12.5 million or $0.30 per share. The investment portfolio grew to $754.3 million. The portfolio's dollar-weighted yield on debt investments was 12.2%. A second-quarter dividend of $0.30 per share was declared, up 11% quarter-over-quarter. The company also improved its core leverage ratio to 26.1%.
Runway Growth Finance Corp. (Nasdaq: RWAY) has declared a cash distribution of $0.30 per share for Q2 2022, reflecting an 11.0% increase from the preceding quarter. The record date is set for May 10, 2022, with payments scheduled for May 24, 2022. The company plans to distribute substantially all available earnings quarterly, offering an opt-out dividend reinvestment plan for stockholders. Runway Growth operates as a specialty finance company, assisting late- and growth-stage companies in securing capital.
Runway Growth Finance Corp. (RWAY) will release its Q1 2022 financial results on May 5, 2022, after market close. The subsequent conference call is scheduled for 3:00 p.m. PT (6:00 p.m. ET), accessible by dialing (844) 467-7753 and referencing conference ID 5457314. Runway Growth specializes in providing flexible capital solutions to late- and growth-stage companies seeking alternatives to equity financing. The company is externally managed by Runway Growth Capital LLC and operates as a business development company under the Investment Company Act of 1940.
Runway Growth Finance Corp. (RWAY) announced significant portfolio developments for Q1 2022, completing seven investments worth $135 million. This includes key loans to Mustang Bio and Revelle Aesthetics. Total commitments now reach $1.6 billion, with $1.3 billion funded since inception. The company suggests a growing trend toward debt funding among growth-stage firms as equity valuations decline. Additionally, Runway Growth reported liquidity events totaling $10.5 million, enhancing its financial position amidst market uncertainties.
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