Runway Growth Credit Fund Inc. - Form 8-K Summary
Business Context and Reporting Period
This Form 8-K, dated July 9, 2018, reports investment activities for Runway Growth Credit Fund Inc. (the "Company") for the period from April 1, 2018, through June 30, 2018. The Company is a Maryland corporation focused on making senior secured loans to middle-market companies.
Key Financial Metrics and Investment Activity
During the reported period, the Company made new investment commitments totaling $91.0 million. As of June 30, 2018, $72.0 million of these commitments had been funded. The filing does not provide consolidated revenue, profit, cash flow, or margin data for the period.
| Portfolio Company | Facility Type | Interest Rate | Total Commitment ($000s) | Funded Commitment ($000s) |
|---|---|---|---|---|
| Aginity, Inc. | Senior Secured Term Loan | L + 10.75% | 14,000 | 7,000 |
| Dtex Systems, Inc. | Senior Secured Term Loan | L + 9.15% | 15,000 | 8,000 |
| Jibe, Inc. | Senior Secured Term Loan | L + 10.00% | 7,000 | 7,000 |
| CareCloud Corporation | Senior Secured/Second Lien Term Loan | P + 7.00% | 25,000 | 25,000 |
| Aria Systems, Inc. | Senior Secured Term Loan | L + 9.00% | 30,000 | 25,000 |
Material Changes and Outlook
The filing details specific new lending commitments but does not provide comparative financial data versus prior periods, forward-looking guidance, or management commentary on future outlook. No material risks or contingencies specific to these transactions are disclosed beyond the standard nature of the lending facilities.
Investor Verification Checklist
- Verify the funding status of the $19.0 million in committed but unfunded capital ($91.0M total - $72.0M funded).
- Confirm the definitions of "L" (likely LIBOR) and "P" (likely Prime) used in the interest rate calculations.
- Review the Company's most recent quarterly report (10-Q) for consolidated liquidity, debt levels, and net asset value, as this 8-K does not contain those figures.
- Assess the credit quality and operational performance of the five new portfolio companies listed.