Runway Growth Finance Corp. (RWAY) - Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Runway Growth Finance Corp. on January 23, 2025. The filing discloses a material change in the Company's independent registered public accounting firm. The Company is an emerging growth company incorporated in Maryland, with principal executive offices in Chicago, Illinois.
Financial Metrics
This filing does not contain financial statements, revenue, profit, cash flow, margin, debt, or liquidity data. The document focuses exclusively on the change in the Company's auditor.
Material Changes
- Dismissal of Auditor: On January 23, 2025, the Board of Directors dismissed RSM US LLP, which had served as the independent registered public accounting firm since the Company's inception.
- Audit History: RSM's audit reports for the fiscal years ended December 31, 2022, and 2023, did not contain adverse opinions, disclaimers, or qualifications. There were no disagreements with RSM regarding accounting principles, practices, or audit scope during the two most recent fiscal years.
- Appointment of New Auditor: On January 23, 2025, the Board appointed Deloitte & Touche LLP to serve as the independent registered public accounting firm for the fiscal year ended December 31, 2024.
- Consultations: The Company confirmed no consultations with Deloitte regarding accounting principles or reportable events prior to their appointment.
Guidance, Outlook, and Risks
The filing does not provide financial guidance, outlook, or management commentary on business operations. The primary risk disclosed is the transition of the external audit function, though the Company states there were no disagreements with the outgoing firm. RSM US LLP provided a letter to the SEC agreeing with the Company's statements regarding the dismissal.
Key Facts for Investor Verification
- Verify the effective date of the new audit engagement with Deloitte & Touche LLP for the 2024 fiscal year.
- Review the attached Exhibit 16.1 (Letter from RSM US LLP) for any additional context regarding the dismissal.
- Monitor upcoming filings (e.g., 10-K) to ensure the transition to the new auditor does not impact the timeliness or scope of the 2024 financial statement audit.
- Confirm that no undisclosed disagreements or reportable events existed with RSM prior to the dismissal.