Business Context and Reporting Period
This Form 8-K is a current report filed by Runway Growth Credit Fund Inc. (the "Company") on June 30, 2021, regarding events occurring on June 28, 2021. The Company is a Maryland corporation focused on credit investments.
Key Financial Metrics
This filing does not contain financial statements, revenue, profit, cash flow, margin, debt, or liquidity data. The report focuses exclusively on a contractual agreement update.
Material Changes
The Company entered into an Amended and Restated Administration Agreement with Runway Administrator Services LLC. The primary material change is the elimination of the cap on annual administration fees payable to the Administrator. Previously, fees were capped at the greater of 0.75% of Capital Commitments or $1,000,000 per fiscal year. The agreement also includes certain conforming and immaterial changes.
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, management commentary on future performance, or discussion of new risks or contingencies beyond the terms of the amended agreement. The Company notes that the description provided is a summary and is qualified by the full text of the agreement filed as Exhibit 10.1.
Investor Verification Checklist
- Review Exhibit 10.1 (Amended and Restated Administration Agreement) for the full scope of fee structures and obligations.
- Verify the impact of removing the administration fee cap on future operating expenses and net asset value.
- Confirm the definition of "Capital Commitments" as it applies to the new fee calculation method.