Form 4: Oaktree Affiliates Sell RWAY Shares

Affiliates of Oaktree Capital Management, including OCM Growth Holdings LLC, sold 500,000 shares of Runway Growth Finance Corp. common stock for $10.80 per share.

Summary

• OCM Growth Holdings LLC, a 10% owner and deemed director of Runway Growth Finance Corp. (RWAY), sold 500,000 shares of common stock.
• The transaction occurred on August 8, 2025, at a price of $10.80 per share.
• Following the sale, OCM Growth Holdings LLC directly holds 8,279,668 shares of RWAY common stock.
• Oaktree Capital Holdings, LLC and Oaktree Capital Group Holdings GP, LLC are also reporting persons, disclaiming beneficial ownership except for their respective pecuniary interest.
• The reporting persons are considered directors by deputization due to their right to designate representatives to serve on the Issuer's board of directors.

Sentiment

Score: 3

Explanation: The sentiment is negative due to a significant insider sale by a major shareholder and deemed director, which can be perceived as a lack of confidence in the company's future performance.

Negatives

• A significant insider sale of 500,000 shares by a 10% owner and deemed director, OCM Growth Holdings LLC, which could signal a lack of confidence or a strategic portfolio rebalancing.

Risks

• Potential negative market perception due to a large insider sale by a significant shareholder and deemed director.
• Risk of misinterpretation of the transaction as a lack of confidence in the company's future performance.

Future Outlook

No forward-looking statements or guidance are provided in this filing.

Industry Context

This insider transaction, involving a significant sale by a major shareholder and deemed director, is primarily company-specific. While not directly tied to broader industry trends, large insider sales can influence investor sentiment within the specialty finance or business development company (BDC) sector, potentially leading to increased scrutiny of the company's fundamentals.

Related Party Transactions

• OCM Growth Holdings LLC, a 10% owner and deemed director, sold 500,000 shares of Runway Growth Finance Corp. common stock.

Stakeholder Impact

• Shareholders: May perceive the insider sale as a negative signal, potentially leading to downward pressure on the stock price.
• Management: Could face questions regarding the reasons for the significant insider sale.

Key Dates

Recommendation

The significant insider sale by Oaktree affiliates, who are 10% owners and deemed directors, signals a potential lack of confidence or a portfolio rebalancing. While not immediately indicative of fundamental deterioration, it warrants a 'hold' recommendation to observe subsequent market reaction and future company performance, as such sales can exert downward pressure on share price and investor sentiment.

Keywords

Runway Growth Finance Corp, RWAY, OCM Growth Holdings LLC, Oaktree Capital Management, Insider Sale, Form 4, SEC Filing, Stock Transaction, 10% Owner, Director by Deputization