---
schema_version: "secwatch.filing_event.v1"
accession: "0000950103-25-013776"
form_type: "8-K"
ticker: "RENT"
cik: "0001468327"
company_name: "Rent the Runway, Inc."
filed_at: "2025-10-29T23:59:59+00:00"
generated_at: "2026-05-17T01:37:39.114445+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Rent the Runway closes recapitalization; APS becomes majority owner with 59.9% voting power

## Summary
- 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.

## SEC filing metadata
- accession: 0000950103-25-013776
- form_type: 8-K
- ticker: RENT
- cik: 0001468327
- company_name: Rent the Runway, Inc.
- filed_at: 2025-10-29T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 1.02, 2.03, 3.01, 5.02, 3.02, 5.01, 5.03, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1468327/000095010325013776/0000950103-25-013776-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1468327/000095010325013776/dp236389_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950103-25-013776
- JSON: https://secwatch.observer/filing/0000950103-25-013776.json
- Plain text: https://secwatch.observer/filing/0000950103-25-013776.txt

## Key facts
- Debt Financings
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1468327/000095010325013776/0000950103-25-013776-index.htm
- Governance Changes
  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
  source text: On October 28, 2025, the Board amended and restated the Company’s bylaws (the “Second Amended & Restated Bylaws”), effective as of the Closing Date.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1468327/000095010325013776/0000950103-25-013776-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.