Business Context and Reporting Period
This Form 8-K was filed by GSV Growth Credit Fund Inc. (referred to in metadata as Runway Growth Finance Corp.) on April 19, 2017. The report details an unregistered sale of equity securities that occurred on the same date.
Key Financial Metrics
The filing reports a capital raise event rather than operational financial performance metrics such as revenue or profit.
- Shares Sold: 1,000,000 shares of Common Stock.
- Aggregate Offering Price: $15,000,000.
- Price Per Share: $15.00 (derived from aggregate price and share count).
- Par Value: $0.01 per share.
Material Changes
The primary material change is the increase in equity capital through the issuance of 1,000,000 shares. The filing does not provide comparative data against a prior period for this specific transaction type.
Guidance, Outlook, and Transaction Details
The sale was conducted pursuant to subscription agreements. Key terms include:
- Funding Mechanism: Investors are required to fund drawdowns to purchase shares up to their capital commitments on an as-needed basis.
- Notice Period: A minimum of 10 business days' prior notice is required for drawdowns.
- Regulatory Exemption: The issuance is exempt from registration under Section 4(a)(2) of the Securities Act of 1933 and Regulation D or Regulation S.
The filing does not contain forward-looking guidance, management commentary on future operations, or specific risk factors beyond the standard regulatory context.
Investor Verification Checklist
- Verify the identity of the investors participating in the $15,000,000 subscription.
- Confirm the total outstanding share count post-issuance to assess dilution.
- Review the specific capital commitment limits for the investors involved.
- Check subsequent filings for the utilization of the raised capital.