NEW YORK, Oct. 28, 2025 (GLOBE NEWSWIRE) -- (NASDAQ:RENT), Rent the Runway, Inc. (the "Company" or "RTR"), a pioneer in apparel rental that created one of the world's leading fashion subscription platforms, today announced the closing of its previously announced recapitalization transactions, a strategic step to enhance the Company's financial position and flexibility by meaningfully reducing outstanding debt, extending the maturity of its remaining debt balance, and providing additional capital to support the Company's growth initiatives.

As part of the recapitalization, Aranda Principal Strategies ("APS") converted a substantial portion of its extant debt investment into common equity ownership, and an investor group consisting of APS, STORY3 Capital Partners ("STORY3") and Nexus Capital Management ("Nexus") contributed $20 million of cash to RTR's balance sheet. Effective as of the closing of the transactions, RTR's total outstanding debt balance was reduced to $120 million with its maturity extended to 2029. In a concurrent rights offering, the Company received an incremental amount of approximately $12.5 million of primary gross proceeds.

"This recapitalization is an important milestone in Rent the Runway's transformation," said Jennifer Hyman, CEO and Co-founder of RTR. "By strengthening our balance sheet and partnering with APS, STORY3 and Nexus, we are now in a better position than ever to focus on our customers, deliver profitable growth, and advance our mission to reinvent how women access fashion."

RTR will continue to operate as a public company and trade ...