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News  ›  GlobeNewswire Inc.

Rent the Runway Announces Closing of Recapitalization Transactions

GlobeNewswire Inc. Logo GlobeNewswire Inc. By Jennifer Hyman
Rent the Runway Announces Closing of Recapitalization Transactions

Rent the Runway completed a strategic recapitalization, reducing outstanding debt to $120 million, extending debt maturity to 2029, and receiving $20 million in cash investment from Aranda Principal Strategies, STORY3 Capital Partners, and Nexus Capital Management.

Insights
SOJE   positive

Beat earnings forecasts, reported revenue growth of 7.5%, increased kilowatt-hour sales in commercial and industrial sectors, and expanded total regulated utility customer base


RENT   positive

Company strengthened balance sheet, reduced debt, secured new investments, and positioned for future growth