WOODSIDE, Calif., July 21, 2022 (GLOBE NEWSWIRE) — Runway Development Finance Corp. (the “Firm”) (Nasdaq: RWAY), an externally managed enterprise improvement firm, immediately introduced that it has commenced an underwritten providing of unsecured notes (the “Notes”), topic to market and different circumstances. The Firm has utilized for the Notes to be listed and commerce on the Nasdaq World Choose Market underneath the buying and selling image “RWAYL”. If accepted for itemizing, the Firm expects the Notes to start buying and selling inside 30 days from the unique challenge date. The rate of interest and different phrases of the Notes might be decided on the time of pricing of the providing.

The Firm intends to make use of the online proceeds from this providing to repay excellent indebtedness underneath its Credit score Settlement with KeyBank Nationwide Affiliation (the “Credit score Facility”). Nevertheless, by re-borrowing of the preliminary repayments underneath the Credit score Facility, the Firm intends to make use of the online proceeds from this providing to make investments in accordance with its funding goal and techniques described within the prospectus complement and the accompanying prospectus, to pay working bills and different money obligations, and for basic company functions. As of July 15, 2022, the Firm had $163.zero million of indebtedness excellent underneath the Credit score Facility, which bore curiosity at a charge of 5.18% as of such date. The Credit score Facility matures on April 20, 2026.

Oppenheimer & Co. Inc., B. Riley Securities, Inc., Ladenburg Thalmann & Co. Inc. and Janney Montgomery Scott LLC are performing as joint book-running managers of this providing. Compass Level Analysis & Buying and selling, LLC and Hovde Group, LLC are performing as co-managers of this providing.

Traders are suggested to rigorously take into account the funding goal, dangers and fees and bills of the Firm earlier than investing. The preliminary prospectus complement, dated July 21, 2022, and accompanying prospectus, dated April 22, 2022, every of which has been filed with the Securities and Change Fee (the “SEC”), include an outline of those issues and different essential details about the Firm and must be learn rigorously earlier than investing.

The data within the preliminary prospectus complement, the accompanying prospectus and this press launch isn’t full and could also be modified. This press launch doesn’t represent a suggestion to promote or the solicitation of a suggestion to purchase the securities on this providing or another securities nor will there be any sale of those securities or another securities referred to on this press launch in any state or jurisdiction wherein such supply, solicitation or sale can be illegal previous to the registration or qualification underneath the securities legal guidelines of such state or jurisdiction.

A shelf registration assertion relating to those securities is on file with and has been declared efficient by the SEC. The providing could also be made solely by way of a preliminary prospectus complement and an accompanying prospectus, copies of which can be obtained from Oppenheimer & Co. Inc., 85 Broad Road, 23^rd Flooring, New York, NY 10004 or by calling (800) 966 1559; B. Riley Securities, Inc., Attn: Prospectus Division, 1300 17th Road North, Suite 1300, Arlington, VA 22209 or by e-mailing prospectuses@brileyfin.com (or by calling (800) 846-5050); Ladenburg Thalmann, Attn: Syndicate Division, 640 Fifth Ave, 4th Flooring, New York, NY 10019, or by emailing prospectus@ladenburg.com (phone quantity 1-800-573-2541) or Janney Montgomery Scott LLC, 1717 Arch Road, Philadelphia, PA 19103 by writing to prospectus@janney.com or calling 215-665-4450; copies can also be obtained by visiting EDGAR on the SEC’s web site at http://www.sec.gov. 

About Runway Development Finance Corp.

Runway Development is a rising specialty finance firm centered on offering versatile capital options to late- and growth-stage firms looking for a substitute for elevating fairness. Runway Development is a closed-end funding fund that has elected to be regulated as a enterprise improvement firm underneath the Funding Firm Act of 1940. Runway Development is externally managed by Runway Development Capital LLC, a longtime registered funding advisor that was shaped in 2015 and led by business veteran David Spreng. For extra data, please go to www.runwaygrowth.com.

Ahead-Wanting Statements

Statements apart from statements of historic info included on this press launch could represent forward-looking statements, together with statements concerning our intentions associated to the providing mentioned on this press launch and the usage of proceeds from the providing, and should not ensures of future efficiency, situation or outcomes and contain quite a lot of dangers and uncertainties. Precise outcomes could differ materially from these within the forward-looking statements on account of quite a lot of elements, together with these described sometimes in Runway Development’s filings with the SEC. Runway Development undertakes no obligation to replace any forward-looking assertion made herein. All forward-looking statements converse solely as of the date of this press launch.

IR Contacts:

Stefan Norbom, Prosek Companions, snorbom@prosek.com 

Thomas B. Raterman, Chief Monetary Officer and Chief Working Officer, tr@runwaygrowth.com