Runway Growth greenshoe brings $25-par notes up to $51.75 million

By Wendy Van Sickle

Columbus, Ohio, Dec. 7 – Runway Growth Finance Corp. closed on its $51.75 million offering of 8% $25-par notes due 2027 (Egan-Jones: BBB+) on Wednesday, according to an FWP filing with the Securities and Exchange Commission.

The $51.75 million included the $45 million originally sold and the full exercise of the $6.75 million greenshoe.

The notes will be callable in whole or in part beginning on Dec. 31, 2024.

Oppenheimer & Co. Inc., UBS Securities LLC, B. Riley Securities, Inc. and Ladenburg Thalmann & Co. Inc. are the joint bookrunners of the public offering.

As previously reported, proceeds will be used to repay outstanding debt under the company’s credit agreement with KeyBank NA. As of Nov. 28, the company had $365 million of debt outstanding under the credit facility, which matures on April 20, 2026.

The company intends to list the notes on the Nasdaq Global Select Market under the symbol “RWAYZ.”

Runway is a specialty finance company focused on providing senior secured loans to high-growth-potential companies in technology, life sciences, health care information and services, business services, select consumer services and products and other high-growth industries. The closed-end management investment company is based in Chicago.

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