Transaction Overview - BC Partners Credit agreed to acquire a majority stake in Runway Growth Capital LLC, an SEC-registered investment adviser managing approximately $1.4 billion in private credit assets [1] - Mount Logan Capital Inc will purchase the remaining minority stake in Runway through the issuance of $5 million worth of common shares [1][3] - The transaction is expected to close in Q4 2024, subject to customary closing conditions including approval from Runway Growth Finance's stockholders [3] Company Profiles Mount Logan Capital Inc - An alternative asset management and insurance solutions company focused on public and private debt securities in North America [6] - Operates through wholly owned subsidiaries Mount Logan Management LLC and Ability Insurance Company [6] - Ability Insurance Company is a Nebraska-domiciled insurer and reinsurer of long-term care policies and annuity products [7] BC Partners & BC Partners Credit - BC Partners is a leading international investment firm with approximately $40 billion in AUM across private equity, private debt, and real estate strategies [8] - BC Partners Credit, launched in 2017, focuses on identifying attractive credit opportunities in complex market segments with $8 billion in assets [8] Runway Growth Capital LLC - Investment adviser to funds including Runway Growth Finance Corp (Nasdaq: RWAY) and other private funds [9] - Provides senior term loans of $30 to $150 million to fast-growing North American companies [9] - Led by industry veteran David Spreng, founded in 2015 [10] Strategic Benefits - The transaction will expand Runway's origination channels, increase capital availability, and enhance investment solution capabilities [1] - Mount Logan expects to benefit from Runway's expertise in venture and non-venture backed growth company lending, diversifying its private credit capabilities [3] - Runway will continue as investment adviser to its managed funds, including Runway Growth Finance Corp [3] Management Perspectives - Mount Logan's CEO Ted Goldthorpe highlights the opportunity to build on Runway's strong momentum in late- and growth-stage lending [5] - Runway's CEO David Spreng emphasizes the long-term value of combining expertise with BC Partners and Mount Logan platforms [5] - The transaction is expected to broaden Runway's investor base across institutional, retail, and insurance capital sources [5]

Runway's recognition highlights its unwavering support for entrepreneurs through minimally dilutive capital solutions. MENLO PARK, Calif., Oct. 29, 2024 /PRNewswire/ -- Runway Growth Capital LLC ("Runway"), a leading provider of growth loans to venture and non-venture-backed companies seeking an alternative to raising equity, is proud to announce its inclusion in Inc. Magazine's 2024 Founder-Friendly Investors list. This marks another significant achievement for the firm, reinforcing its reputation as a tru ...

Core Viewpoint - Runway Growth Finance Corp. will release its third quarter 2024 financial results on November 12, 2024, and will hold a conference call to discuss these results [1] Company Overview - Runway Growth is a specialty finance company that provides flexible capital solutions to late- and growth-stage companies as an alternative to raising equity [3] - The company is structured as a closed-end investment fund and is regulated as a business development company under the Investment Company Act of 1940 [3] - Runway Growth is externally managed by Runway Growth Capital LLC, which was established in 2015 and led by industry veteran David Spreng [3] Conference Call Details - Participants can register for the conference call or webcast on the Runway Growth Investor Relations website, with a recommendation to register a day in advance or at least 15 minutes before the call [2] - A replay of the webcast will be available two hours after the call and archived for 90 days [2]

Completed Seven Investments in New and Existing Portfolio Companies Representing $75.3 Million in Funded Investments MENLO PARK, Calif., Oct. 08, 2024 (GLOBE NEWSWIRE) -- Runway Growth Finance Corp. (Nasdaq: RWAY) ("Runway Growth" or the "Company"), a leading provider of flexible capital solutions to late- and growth-stage companies seeking an alternative to raising equity, today provided an operational and portfolio update for the third quarter ended September 30, 2024. "Runway Growth added attractive inve ...

Grafissimo Overview The rapidly changing interest rate environment really exposed the true quality of many business development companies. While interest rates sit at their decade high, it is expected that business development companies are capable of generating elevated levels of earnings through net investment income. However, there are some BDCs that have failed to capitalize during this higher interest rate environment and have fallen short against peers. Runway Growth Finance (NASDAQ:RWAY) operates as ...

Runway Growth Finance Corp. (RWAY) came out with quarterly earnings of $0.37 per share, missing the Zacks Consensus Estimate of $0.43 per share. This compares to earnings of $0.49 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -13.95%. A quarter ago, it was expected that this company would post earnings of $0.46 per share when it actually produced earnings of $0.46, delivering no surprise. Over the last four quarters, the co ...

MENLO PARK, Calif., July 31, 2024 (GLOBE NEWSWIRE) -- Runway Growth Finance Corp. (NASDAQ:RWAY) ("Runway Growth" or the "Company"), a leading provider of flexible capital solutions to late- and growth-stage companies seeking an alternative to raising equity, today announced that its Board of Directors has declared a third quarter 2024 regular cash distribution of $0.40 per share. In addition, the Board of Directors declared a supplemental dividend of $0.05 per share, for the third quarter of 2024. The follo ...

MENLO PARK, Calif., July 31, 2024 (GLOBE NEWSWIRE) -- Runway Growth Finance Corp. (Nasdaq: RWAY) ("Runway Growth" or the "Company"), a leading provider of flexible capital solutions to late- and growth-stage companies seeking an alternative to raising equity, today announced that its Board of Directors has declared a third quarter 2024 regular cash distribution of $0.40 per share. In addition, the Board of Directors declared a supplemental dividend of $0.05 per share, for the third quarter of 2024. The foll ...

"Runway Growth delivered portfolio expansion in the second quarter while maintaining our disciplined approach to underwriting and credit quality," said David Spreng, Founder and CEO of Runway Growth. "As we evaluate the current late- and growth-stage market, we are confident that more high-quality companies are seeking non-dilutive capital to advance their strategic roadmaps. Our borrowers continue to generate strong performance in the existing operating environment, and we look forward to partnering with a ...

Core Insights - Runway Growth has successfully expanded its portfolio in Q2 2024 while maintaining a disciplined approach to underwriting and credit quality, indicating confidence in the demand for non-dilutive capital among high-quality companies [1][6] - The company completed two significant investments totaling $75.5 million, including a $58.4 million investment in a marketing technology enterprise SaaS platform and a $56.1 million senior secured term loan to Onward Medical N.V. [1][10] - As of June 30, 2024, Runway Growth's portfolio consisted of 47 debt investments across 31 companies and 83 equity investments in 52 companies, showcasing a diverse investment strategy focused on late and growth-stage businesses in technology, life sciences, and consumer services [3][7] Investment Activity - In Q2 2024, Runway Growth funded two new portfolio companies, reflecting its strategy to support high-quality late-stage companies in the venture debt market [7] - The company experienced a prepayment of $25.3 million on a senior secured term loan to Turning Tech Intermediate, Inc., along with scheduled principal amortization of $1.3 million [2][7] Portfolio Management - Runway Growth emphasizes a credit-first approach, maintaining high investment standards despite prolonged high interest rates, which positions it as a preferred lender in the venture debt space [7] - The company has a low leverage ratio and sufficient capital reserves, allowing it to deploy funds effectively across its core sectors [7][8]