RWAY

MENLO PARK, Calif., Sept. 25, 2026 (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 it has priced an underwritten public offering of $45.0 million aggregate principal amount of notes due 2031 (the “Notes”), which will result in net proceeds to the Company of approximately $43.7 million after payment of underwriting discounts and commissions but before deducting expenses payable by the Company related to this offering. The Notes will mature on October 1, 2031, and may be redeemed in whole or in part at any time or from time to time at the Company's option on or after October 1, 2028. The Notes will be issued in denominations of $25 and integral multiples of $25 in excess thereof and will bear interest at a rate of 7.75% per year, payable quarterly, with the first interest payment occurring on December 1, 2026. In addition, the Company has granted the underwriters a 30-day option to purchase up to an additional $6.8 million aggregate principal amount of Notes to cover overallotments, if any.

MENLO PARK, Calif., Sept. 23, 2026 (GLOBE NEWSWIRE) -- Runway Growth Finance Corp. (“Runway Growth” or the “Company”) (Nasdaq: RWAY), a leading provider of flexible capital solutions to late and growth-stage companies seeking an alternative to raising equity, today announced that it has commenced an underwritten offering of unsecured notes (the “Notes”), subject to market and other conditions. The Company has applied for the Notes to be listed and trade on the Nasdaq Global Select Market. If approved for listing, the Company expects the Notes to begin trading within 30 days from the original issue date. The interest rate and other terms of the Notes will be determined at the time of pricing of the offering.

The average of price targets set by Wall Street analysts indicates a potential upside of 29.9% in Runway Growth Finance Corp. (RWAY). While the effectiveness of this highly sought-after metric is questionable, the positive trend in earnings estimate revisions might translate into an upside in the stock.

Runway Growth Finance trades at a 45% discount to NAV, offering a fully covered 20% dividend yield. RWAY's SWK acquisition has improved NII growth, dividend coverage, and portfolio risk profile, reversing negative trends. Despite the steep discount and strong yield, rising non-accruals and potential portfolio declines warrant a Hold rating.

Runway Growth Finance Corp. (RWAY) shares have started gaining and might continue moving higher in the near term, as indicated by solid earnings estimate revisions.

The mean of analysts' price targets for Runway Growth Finance Corp. (RWAY) points to a 30.1% upside in the stock. While this highly sought-after metric has not proven reasonably effective, strong agreement among analysts in raising earnings estimates does indicate an upside in the stock.

Venture lending is the higher-octane corner of private credit. Business development companies, or BDCs, in this niche extend senior secured loans to venture-backed and lower-middle market private companies, then pass the interest income through to shareholders as dividends.

Runway Growth Finance trades at a 45% discount to NAV, offering a compelling entry point. RWAY's discount-adjusted expected ROE is approximately 16%, outpacing both peers and its own baby bonds. The recent SWK Holdings acquisition increased portfolio size, profitability, and NII by $0.05 per share, but also raised leverage to 1.36x.

Runway Growth Finance Corp. (RWAY) Q2 2026 Earnings Call Transcript

Runway Growth Finance NASDAQ: RWAY reported higher second-quarter net investment income as the business integrated assets acquired through its April purchase of SWK Holdings, while management emphasized portfolio diversification, disciplined underwriting and share repurchases amid a substantial discount to net asset value.