Core Viewpoint - Runway Growth Finance Corp. has announced a public offering of $100 million in notes due 2031, aiming to provide flexible capital solutions to late and growth-stage companies [1][2] Group 1: Offering Details - The offering is priced at $100 million with net proceeds expected to be approximately $97 million after underwriting discounts [1] - The notes will mature on February 3, 2031, with an interest rate of 7.25% per year, payable quarterly starting March 1, 2026 [1] - A 30-day option for underwriters to purchase an additional $15 million in notes is included to cover overallotments [1] Group 2: Use of Proceeds - The net proceeds will be used to repay outstanding indebtedness, including redeeming all of the 8.00% Notes due 2027 and a portion of the 7.50% Notes due 2027 [2] - As of January 23, 2026, the company had $51.75 million outstanding under the December 2027 Notes and $80.5 million under the July 2027 Notes [2] Group 3: Management and Structure - Oppenheimer & Co. Inc., B. Riley Securities, Inc., Lucid Capital Markets, LLC, and BC Partners Securities, LLC are the joint book-running managers for the offering [3] - Runway Growth is externally managed by Runway Growth Capital LLC, an affiliate of BC Partners Advisors L.P., and led by David Spreng [7]

Core Viewpoint - Runway Growth Finance Corp. has initiated an underwritten offering of unsecured notes to provide flexible capital solutions to late and growth-stage companies, with proceeds aimed at repaying existing debt and financing an acquisition [1][2]. Group 1: Offering Details - The company has commenced an offering of unsecured notes, which are expected to be listed on the Nasdaq Global Select Market, pending approval [1]. - The interest rate and terms of the notes will be determined at the time of pricing [1]. - The offering is managed by Oppenheimer & Co. Inc., B. Riley Securities, Inc., Lucid Capital Markets, LLC, and BC Partners Securities, LLC, with co-managers including InspereX LLC and William Blair & Company L.L.C. [3]. Group 2: Use of Proceeds - The net proceeds from the offering will be used to repay outstanding indebtedness, including redeeming a portion of the 8.00% Notes due 2027, which had an outstanding amount of $51.75 million as of January 23, 2026 [2]. - The proceeds will also finance the acquisition of SWK Holdings Corporation and for general corporate purposes [2]. Group 3: Company Overview - Runway Growth is a specialty finance company focused on providing flexible capital solutions to late- and growth-stage companies, regulated as a business development company under the Investment Company Act of 1940 [7]. - The company is externally managed by Runway Growth Capital LLC, an affiliate of BC Partners Advisors L.P., and led by industry veteran David Spreng [7].

Core Viewpoint - Runway Growth Finance Corp. reported its financial results for the second quarter of 2025, showcasing a solid performance with total investment income of $35.1 million and net investment income of $13.9 million, indicating a strategic focus on optimizing its investment portfolio and enhancing shareholder returns [2][5][9]. Financial Performance - Total investment income for Q2 2025 was $35.1 million, up from $34.2 million in Q2 2024 [5]. - Net investment income for Q2 2025 was $13.9 million, or $0.38 per share, compared to $14.6 million, or $0.37 per share, in Q2 2024 [5]. - Operating expenses increased to $21.2 million in Q2 2025 from $19.6 million in Q2 2024 [7]. - The dollar-weighted annualized yield on average debt investments was 15.4% for Q2 2025 [6]. Investment Portfolio - As of June 30, 2025, the investment portfolio had a fair value of $1.0 billion, consisting of $962.5 million in loans (97.8% senior secured) and $62.5 million in warrants and equity-related investments [10]. - The company completed two investments in new portfolio companies and one in an existing company, totaling $37.8 million in funded investments during Q2 2025 [11]. Net Asset Value - The net asset value (NAV) per share as of June 30, 2025, was $13.66, reflecting a 1% increase from $13.48 as of March 31, 2025 [12]. - Total net assets at the end of Q2 2025 were $498.9 million [12]. Liquidity and Capital Resources - The company had approximately $297.0 million in available liquidity as of June 30, 2025, including $6.0 million in cash and $291.0 million in borrowing capacity [13]. - The core leverage ratio was approximately 105%, up from 99% at the end of Q1 2025 [13]. Distributions - The board declared total distributions of $0.36 per share for Q3 2025, consisting of a regular dividend of $0.33 and a supplemental dividend of $0.03 [14].

Core Viewpoint - Runway Growth Finance Corp. reported its financial results for the first quarter of 2025, highlighting a decrease in total and net investment income compared to the previous year, while maintaining a strong investment portfolio and liquidity position [2][5][12]. Financial Performance - Total investment income for Q1 2025 was $35.4 million, down from $40.0 million in Q1 2024 [5]. - Net investment income for Q1 2025 was $15.6 million, or $0.42 per share, compared to $18.7 million, or $0.46 per share, in Q1 2024 [5][8]. - The dollar-weighted annualized yield on average debt investments was 15.4% for the quarter [6]. Operating Expenses and Gains - Total operating expenses for Q1 2025 were $19.8 million, a decrease from $21.3 million in Q1 2024 [7]. - The company realized a net gain on investments of $6.1 million for Q1 2025, compared to no net realized gains or losses in Q1 2024 [7][8]. Investment Portfolio - As of March 31, 2025, the investment portfolio had a fair value of $1.0 billion, consisting of $946.4 million in term loans, with 97.9% being senior secured loans [10]. - The company completed three investments in existing portfolio companies during Q1 2025, totaling $50.7 million in funded investments [8][11]. Net Asset Value - The net asset value as of March 31, 2025, was $503.3 million, or $13.48 per share, down from $529.5 million, or $13.36 per share, as of March 31, 2024 [12]. Liquidity and Capital Resources - The company had approximately $315.4 million in available liquidity as of March 31, 2025, including $18.4 million in cash and $297.0 million in borrowing capacity [14]. - The core leverage ratio was approximately 99%, compared to 108% at the end of 2024 [14]. Distributions - The board declared a regular quarterly distribution of $0.33 per share and a supplemental distribution of $0.02 per share for Q2 2025 [15]. Recent Developments - The company entered into a Master Note Purchase Agreement on April 7, 2025, issuing $107.0 million in Series 2025A Senior Notes with a fixed interest rate of 7.51% [18][19]. - A new share repurchase program was approved, allowing the company to repurchase up to $25.0 million of its outstanding common stock [23].