Rent the Runway announces USD 15 million rights offering backstopped by investor group
RENT•Backstopped rights offering announced
Rent the Runway entered a backstop agreement for a USD 15 million rights offering of Class A common stock.
CHS US Investments, Gateway Runway, and S3 RR Aggregator will buy any unsubscribed shares at the subscription price.
Subscription price and closing conditions
The subscription price is set at the greater of USD 3.55 or a 15-day VWAP through the record date.
Any issuance of unsubscribed shares is treated as an unregistered sale of equity securities under Item 3.02.
Closing requires an effective SEC registration statement for the rights offering.
