Runway Growth Finance Corp. Announces Secondary Offering Of 3.75M Shares Of Common Stock By Selling Stockholders
Portfolio Pulse from Benzinga Newsdesk
Runway Growth Finance Corp. (RWAY) announced a secondary offering of 3.75 million shares by selling stockholders OCM Growth Holdings LLC and Oaktree Opportunities Fund XB Holdings (Delaware), L.P. The offering includes a 30-day option for underwriters to purchase up to an additional 562,500 shares. Joint-lead book-running managers are Wells Fargo Securities, Morgan Stanley, BofA Securities, and UBS Securities LLC, with Keefe, Bruyette & Woods, and B. Riley Securities as joint book-running managers.
November 13, 2023 | 9:47 pm
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Runway Growth Finance Corp. is undergoing a secondary offering of 3.75 million shares, which could potentially dilute existing shareholders and impact the stock price negatively in the short term.
Secondary offerings often lead to dilution of existing shares, which can result in a decrease in stock price as the market absorbs the additional supply. The impact is likely to be negative in the short term, although the long-term effect will depend on the use of proceeds and overall market conditions.
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