secwatch.observer — SEC 8-K summary
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Issuer:     Rent the Runway, Inc. (RENT)
CIK:        0001468327
Form:       8-K
Filed at:   2021-10-29T23:59:59+00:00
Accession:  0001193125-21-313321
Event type: other_material
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 3.03, 5.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Rent the Runway completes $357M IPO, amends credit facility to $271.6M at 12% rate
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- IPO of 17,000,000 shares at $21.00 per share; gross proceeds $357.0M before expenses.
- Credit facility amended: maturity extended to Oct 2024, principal reduced to $271.6M, interest rate 12% (up to 5% PIK), minimum liquidity covenant $50M.
- Used net proceeds to repay entire Ares Facility and $60.0M of outstanding term loans under the Credit Facility.
- Stockholders Agreement: Bain, Highland, and Founder designate board nominees; initial board of 11 directors detailed.
- Issued 394,343 warrants to lenders in connection with the credit facility amendment.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1468327/000119312521313321/0001193125-21-313321-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1468327/000119312521313321/d211519d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-21-313321

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