Rent the Runway, Inc. (RENT) Form 8-K — Sep 11, 2026
Rent the Runway entered into a Rights Offering Backstop Agreement on September 11, 2026 with CHS US Investments LLC, Gateway Runway, LLC and S3 RR Aggregator, LLC, in connection with a $15,000,000 rights offering of Class A common stock intended to enhance the company's financial position and financial flexibility. Eligible holders of record will receive one transferable subscription right per Class A share, with each right exercisable to buy one additional share at a subscription price equal to the greater of $3.55 or the 15-day volume-weighted average price through the record date, and over-subscription privileges are available.
Key figures
- Gross Proceeds
- 15000000
- Offering Price
- $3.55 minimum (greater of $3.55, the 15-day VWAP ending two trading days before the agreement, or the 15-day VWAP through the record date)
- Backstop chs usd
- 10500000
- Backstop s3rr usd
- 2250000
- Subscription ratio
- 1 transferable right per Class A share; each right purchases 1 share
- Backstop gateway usd
- 2250000
- Chs backstop percent
- 70%
- S3rr backstop percent
- 15%
- Over subscription right
- Yes
- Gateway backstop percent
- 15%
- Backstop share registration
- Unregistered (Item 3.02); Form S-1 to be filed for the rights offering
AI analysis
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