Rent the Runway raises $6.1 million in backstop share sale
RENT•Rent the Runway issued 1,724,089 Class A shares on October 21, 2026, raising approximately $6.1 million. The shares were purchased at $3.55 each after a $15 million rights offering closed the previous day.
1. Backstop shares issued
Rent the Runway issued 1,724,089 Class A common shares on October 21, 2026, raising approximately $6.1 million. CHS US Investments, Gateway Runway and S3 RR Aggregator bought the unsubscribed shares at $3.55 per share under their backstop commitment.
2. Rights offering proceeds
The $15 million rights offering closed on October 20. Subscribers exercised rights to purchase 2,501,262 Class A shares, generating approximately $8.9 million in gross proceeds. The backstop shares and 2,495,391 subscriber shares purchased by the investor group were issued under Securities Act Section 4(a)(2).
