Latham & Watkins Advises STORY3 Capital Partners and Nexus Capital Management in Rent the Runway’s Growth Recapitalization

Rent the Runway, Inc. (Nasdaq: RENT), the disruptor that created the fashion rental category, has announced a growth recapitalization. This transformative capital transaction, in partnership with STORY3 Capital Partners, Nexus Capital Management, and Aranda Principal Strategies (APS), is expected to dramatically enhance the company’s balance sheet and financial flexibility. APS will convert a substantial portion of its original debt investment into common equity ownership, and APS, STORY3, and Nexus will contribute new capital to further support the business and its growth initiatives.

Latham & Watkins LLP represents STORY3 and Nexus in the transaction with a corporate team led by Los Angeles partner Steve Stokdyk, with associate Tristan Schmoor. Advice was also provided on finance matters by Los Angeles partner Jason Bosworth, with associate Hai Pham.