Runway Growth Finance Prices Secondary Offering Of 3.75M Common Shares By Selling Stockholders At $12.56/Share
Portfolio Pulse from Benzinga Newsdesk
Runway Growth Finance has priced a secondary offering of 3.75 million common shares at $12.56 per share. The shares are being sold by existing stockholders, not by the company itself, which means that the proceeds from the sale will not go to Runway Growth Finance but to the selling shareholders.
November 14, 2023 | 6:45 am
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Runway Growth Finance's stock may experience increased volatility and potential price pressure due to the secondary offering of 3.75 million shares at $12.56 each by current stockholders.
Secondary offerings often lead to short-term price declines due to the increased supply of shares. Since the company is not receiving any proceeds, there is no direct financial benefit to RWAY. However, the impact may be mitigated if the market has already anticipated the offering.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100