Runway Growth Finance Corp (RWAY)

Shares of Runway Growth Finance Corp (RWAY) dropped by 6.73% from $13.22 to $12.33 in the trading on Tuesday, Novemeber 14, 2023. The reason why RWAY is down today is due to the announcement of a priced secondary offering. Runway Growth Finance Corp announced the pricing of a previously announced underwritten secondary offering. The offering consists of 3,750,000 shares of its common stock by OCM Growth Holdings LLC and Oaktree Opportunities Fund XB Holdings (Delaware), L.P. (the "Selling Stockholders"). The public offering price is set at $12.56 per share. Additionally, the Selling Stockholders have granted the underwriters a 30-day option to purchase up to 562,500 additional shares. The offering is expected to settle and close on or about November 16, 2023. As investors are cautious about the offering, which led to a drop in stock price.