Rent the Runway sets record date for $15 million rights offering

Rent the Runway, Inc. (NASDAQ:RENT) has announced September 25, 2026 as the record date for its $15 million rights offering. Shareholders who held Class A common stock as of the record date's close will receive transferable subscription rights at no cost. The company aims to raise capital as its stock price has declined significantly in recent weeks and year-to-date, currently trading at $2.07.

Eligible shareholders can purchase up to 4,225,352 shares of Class A common stock at a subscription price, which is the higher of $3.55 per share or the volume weighted average price for the 15-day trading period through the record date. This offering will be detailed in a forthcoming prospectus filed with the U.S. Securities and Exchange Commission.

Rent the Runway clarified that this announcement does not constitute an offer to sell or solicit the sale of securities and will only occur in compliance with applicable securities laws. The news comes following the company's Q2 2026 earnings report, where it reported narrower-than-expected losses and significantly higher revenue compared to the previous year.

The EPS improved to negative $0.38, a stark contrast to analysts' predictions of a negative $6.13. The company attributes these results to better profit margins, cash flow, and a stronger focus on core rental and resale operations. Investors and analysts have taken notice of these positive developments, potentially influencing future outlook adjustments.