Runway Growth Raises Buyback Cap to $30 Million Through Sept. 30, 2027

Runway Growth Finance Corp. (NASDAQ: RWAY) doubled its share repurchase cap to $30 million and extended the program through Sept. 30, 2027, increasing the amount and time available for buybacks.

The board approved the change to the Fifth Repurchase Program on Nov. 4. Management may decide whether and when to make purchases. The authorization ends if repurchases reach $30 million before Sept. 30, 2027, unless it is renewed. The previous limit was $15 million, with an end date of May 7, 2027.

The $30 million figure is the program’s purchase ceiling, not the amount already spent. Through Sept. 30, 2026, Runway had repurchased 1,018,206 shares for $6.2 million. During the third quarter, it bought 769,037 shares for $4.8 million.

From Oct. 1 through Nov. 5, Runway received $55 million in debt prepayments and $700,000 in equity proceeds. Over the same period, it completed $4 million in additional debt commitments and funded $4.8 million in existing investment commitments.

Runway provides capital to late- and growth-stage companies and has elected to be regulated as a business development company. Co-CEO Michael Rovner said the decision was made “with shareholder value at the center of our decision-making.”

The buyback adds a capital-return update to Runway’s third-quarter financial results. For the quarter, net investment income was $15.9 million, or $0.38 per share. The company’s investment portfolio had a fair value of $1.1 billion, and net asset value was $494.7 million, or $11.94 per share.

The authorization remains available through Sept. 30, 2027, unless purchases reach the $30 million cap sooner or the program is renewed.