Rent the Runway, Inc. announced the successful completion of its recapitalization transactions, reducing outstanding debt to $120 million and extending maturity to 2029. APS, STORY3, and Nexus contributed $20 million to the company. CEO Jennifer Hyman stated this move will enhance financial flexibility and support growth initiatives. RTR will continue to trade on Nasdaq under “RENT.” Founded in 2009, RTR offers a fashion subscription platform with millions of designer items. The company aims to empower women to feel their best every day. Hyman has been recognized as one of the most influential people in the world.

Read more at GlobeNewswire: Rent the Runway Announces Closing of Recapitalization