Rent The Runway Stock Surges 29% On Growth Recapitalization

(RTTNews) - Rent the Runway, Inc. (RENT) jumped 29.32 percent to $5.80, up $1.32 on Thursday, after announcing a growth recapitalization aimed at strengthening its balance sheet and boosting financial flexibility.

The stock opened at $5.17 and traded between $4.77 and $5.85 on heavy volume of 1.38 million shares, far above the average of 109,000 on the Nasdaq. Rent the Runway's 52-week range is $3.69 to $17.00.

The plan includes a significant reduction in debt, lower interest expenses, and extended debt maturities. APS will convert much of its debt investment into equity, while APS, STORY3, and Nexus will inject new capital to support RTR's growth strategy.