Runway Growth Finance Announces Secondary Offering Of 3.75M Shares Of Common Stock By Selling Stockholder
Portfolio Pulse from Benzinga Newsdesk
Runway Growth Finance Corp. (RWAY) announced a secondary offering of 3.75 million shares by OCM Growth Holdings LLC. The offering includes an option for underwriters to purchase an additional 562,500 shares. Wells Fargo Securities, Morgan Stanley, BofA Securities, and UBS Investment Bank are the joint-lead book-running managers, with Keefe, Bruyette & Woods, RBC Capital Markets, and B. Riley Securities also acting as managers.
May 09, 2024 | 10:01 pm
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Runway Growth Finance Corp. is undergoing a secondary offering of 3.75 million shares by a selling stockholder, with potential for additional shares, managed by leading financial institutions.
Secondary offerings often lead to a dilution of existing shares, potentially causing a short-term negative impact on the stock price. The involvement of top-tier banks as managers might mitigate some negative perceptions, but the primary effect remains likely downward due to increased supply of shares.
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