Business Context and Reporting Period
This Form 8-K was filed by Runway Growth Credit Fund Inc. on December 4, 2020, reporting events occurring on December 2, 2020. The Company is a Maryland-based investment company focused on providing credit facilities to growth-stage companies.
Key Financial Metrics and Debt
This filing does not report revenue, profit, cash flow, or operating margins. The primary financial update concerns the Company's debt capacity and credit facility structure:
- Aggregate Commitments: Increased from $175 million to $215 million.
- Accordion Capacity: The maximum aggregate commitment amount was increased from $200 million to $300 million.
- Liquidity and Lenders: Bank of Hope and First Foundation Bank were added as new Lenders and Managing Agents.
Material Changes Versus Prior Period
The material change reported is the execution of the "Credit Facility Amendment" to the Credit Agreement originally dated May 31, 2019. This amendment significantly expanded the Company's borrowing capacity and broadened its lender base. Borrowing remains subject to leverage restrictions under the Investment Company Act of 1940.
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, management commentary on future performance, or specific risk factors beyond the standard reference to leverage restrictions under the Investment Company Act of 1940. The document serves strictly to disclose the amendment of the credit agreement.
Key Facts for Investor Verification
- Verify the effective date of the Credit Facility Amendment (December 2, 2020).
- Confirm the new aggregate commitment level of $215 million and the expanded accordion limit of $300 million.
- Review the full text of the Second Amendment to the Credit Agreement filed as Exhibit 10.1 for specific terms and covenants.
- Note that the filing does not provide current balance sheet data or income statement results.