Runway Growth Finance Corp. Announces Secondary Offering of Common Stock by Selling Stockholders
November 13 2023 - 3:12PM
Runway Growth Finance Corp. (Nasdaq: RWAY) (the “Company” or
“Runway Growth”) a specialty finance company focused on providing
senior secured loans to high growth-potential companies in
technology, life sciences, healthcare information and services,
business services, select consumer services and products and other
high-growth industries, today announced a proposed underwritten
secondary offering of 3,750,000 shares of its common stock by OCM
Growth Holdings LLC and Oaktree Opportunities Fund XB Holdings
(Delaware), L.P. (collectively, the “Selling Stockholders”)
pursuant to a registration statement filed with the Securities and
Exchange Commission (the “SEC”). In connection with the proposed
offering, the Selling Stockholders intend to grant the underwriters
a 30-day option to purchase up to an additional 562,500 shares of
the common stock offered by the Selling Stockholders.
The joint-lead book-running managers for the
offering are Wells Fargo Securities, Morgan Stanley & Co. LLC,
BofA Securities and UBS Securities LLC. Additionally, Keefe,
Bruyette & Woods, a Stifel Company, and B. Riley
Securities are acting as joint book-running managers.
Investors are advised to carefully
consider the investment objective, risks, charges and expenses of
the Company before investing. The preliminary prospectus supplement
dated November 13, 2023 and the accompanying base prospectus dated
October 31, 2023 contains this and other information about the
Company and should be read carefully before investing. The
information in the preliminary prospectus supplement, the
accompanying prospectus and this press release is not complete and
may be changed.
The offering may be made only by means
of a preliminary prospectus supplement and an accompanying
prospectus, copies of which may be obtained from (1) Wells Fargo
Securities, 90 South 7th Street, 5th Floor, Minneapolis, MN 55402,
at 800-645-3751 (option #5) or email a request to
WFScustomerservice@wellsfargo.com; (2)
Morgan Stanley & Co. LLC, 180 Varick Street, 2nd Floor, New
York, NY 10014, Attn: Prospectus Department; (3) BofA Securities,
NC1-022-02-25, 201 North Tryon Street, Charlotte, NC 28255, Attn:
Prospectus Department, email:
dg.prospectus_requests@bofa.com; (4) UBS
Securities LLC, 1285 Avenue of the Americas, New York, NY 10019,
Attn: ECM Syndicate.
This press release does not constitute an offer
to sell or the solicitation of an offer to buy the securities in
this offering or any other securities nor will there be any sale of
these securities or any other securities referred to in this press
release in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of such state or
jurisdiction.
About Runway Growth Finance
Corp.
Runway Growth is a growing specialty finance
company focused on providing flexible capital solutions to late-
and growth-stage companies seeking an alternative to raising
equity. Runway Growth is a closed-end investment fund that has
elected to be regulated as a business development company under the
Investment Company Act of 1940. Runway Growth is externally managed
by Runway Growth Capital LLC, an established registered investment
advisor that was formed in 2015 and led by industry veteran David
Spreng.
Forward-Looking Statements
Statements included herein may constitute
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. Statements other than
statements of historical facts included in this press release may
constitute forward-looking statements and are not guarantees of
future performance, condition or results and involve a number of
risks and uncertainties, including the impact of COVID-19 and
related changes in base interest rates and significant market
volatility on our business, our portfolio companies, our industry
and the global economy. Actual results may differ materially from
those in the forward-looking statements as a result of a number of
factors, including those described from time to time in Runway
Growth’s filings with the Securities and Exchange Commission.
Runway Growth undertakes no duty to update any forward-looking
statement made herein. All forward-looking statements speak only as
of the date of this press release.
Contacts:
Stefan Norbom, Prosek Partners, snorbom@prosek.comThomas B.
Raterman, Acting President, Chief Financial Officer and Chief
Operating Officer, tr@runwaygrowth.com
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