Rent the Runway, Inc. (RENT): debt financing — Rent the Runway closes recapitalization; APS becomes majority owner with 59.9% voting power

Rent the Runway, Inc.

APS converted $100M debt to new term loans; remaining debt exchanged for 26.2M Class A shares, giving APS 59.9% voting power.
Investor group (APS, Nexus, STORY3) provided additional $20M cash; total debt now $120M with maturity extended to Oct 2029.
Rights offering raised ~$12.5M gross proceeds; backstop group bought 2.32M shares at $4.08 for $9.5M.
Board reconstituted: six directors resigned, five new appointed; Audit Committee non-compliant with Nasdaq until 2026 annual meeting.

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Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Rent the Runway, Inc. incurred credit facility of $120 million with CHS (US) Management LLC at either (i) a bank reference rate, plus 4.00% or (ii) term SOFR plus 5.00%, in ea maturing October 28, 2029.

Instrument: credit facility
Principal: $120 million
Counterparty: CHS (US) Management LLC
Rate: either (i) a bank reference rate, plus 4.00% or (ii) term SOFR plus 5.00%, in ea
Maturity: October 28, 2029
Event: incurrence

Exact text from the filing

amended and restated. The Investor Group also provided an additional $20 million of term loans under the New Credit Agreement, resulting in a total aggregate principal amount of $120 million as of the closing of the Recapitalization Transactions. The New Credit Agreement requires the Company to comply with specified non-financial covenants, including, but not limited

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Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Rent the Runway, Inc.: Amended and restated bylaws to remove lead independent director provisions, add Lender exemption from notice procedures while Investor Rights Agreement is in effect, and make technical amendments regarding adjournment of stockholder meetings and stockholder lists (effective 2025-10-28).

Change: bylaw amendment
Effective: 2025-10-28

Exact text from the filing

On October 28, 2025, the Board amended and restated the Company’s bylaws (the “Second Amended & Restated Bylaws”), effective as of the Closing Date.

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304 debt financings filed in the last 30 days. Browse all debt financings →

Rent the Runway, Inc. filing history →

Source: SEC EDGAR

accession 0000950103-25-013776

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