Highland Management Partners VIII Amends Rent the Runway Stake

TL;DR

**Highland Management Partners VIII updated their Rent the Runway (RTR) ownership filing.**

AI Summary

Highland Management Partners VIII Limited Partnership, along with its affiliated entities including Daniel Nova, filed an amended SC 13G/A on February 9, 2024, indicating their ownership of Rent the Runway, Inc. Class A Common Stock as of December 31, 2023. This filing, an amendment to a previous disclosure, shows that Highland Management Partners VIII is a significant holder, and its continued reporting under Rule 13d-1(d) suggests they are not actively seeking to influence management. For investors, this means a major institutional investor maintains a position in Rent the Runway, which can be seen as a vote of confidence, but the specific change in their holding percentage is not detailed in this excerpt.

Why It Matters

This filing confirms a major institutional investor, Highland Management Partners VIII, continues to hold a significant stake in Rent the Runway, Inc., which can influence investor sentiment and stock stability.

Risk Assessment

Risk Level: low — This filing is an amendment to a passive ownership disclosure, indicating no immediate change in company control or strategy.

Analyst Insight

Investors should note that a major institutional investor is maintaining its position, suggesting continued confidence, but this filing alone doesn't indicate any new strategic moves or changes in their percentage ownership.

Key Numbers

• $0.001 — par value per share (par value of Rent the Runway, Inc. Class A Common Stock)
• 76010Y103 — CUSIP Number (identifies Rent the Runway, Inc. Class A Common Stock)
• 20231231 — Date of Event (the date as of which the ownership information is reported)

Key Players & Entities

• Highland Management Partners VIII Limited Partnership (company) — reporting person and significant shareholder of Rent the Runway, Inc.
• Rent the Runway, Inc. (company) — the subject company whose Class A Common Stock is being reported on
• Daniel Nova (person) — listed as a group member of the reporting persons
• Highland Capital Partners VIII Limited Partnership (company) — group member of the reporting persons
• Highland Leaders Fund I, L.P. (company) — group member of the reporting persons

Forward-Looking Statements

• Highland Management Partners VIII will maintain a significant, passive stake in Rent the Runway, Inc. (Highland Management Partners VIII Limited Partnership) — high confidence, target: Next 12 months

FAQ

Key Financial Figures

• $0.001 — Name of Issuer) Class A Common Stock, $0.001 par value per share (Title of Class o

Filing Documents

• d768652dsc13ga.htm (SC 13G/A) — 149KB
• 0001193125-24-030674.txt ( ) — 151KB

From the Filing

SC 13G/A 1 d768652dsc13ga.htm SC 13G/A SC 13G/A UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. 1)* Rent the Runway, Inc. (Name of Issuer) Class A Common Stock, $0.001 par value per share (Title of Class of Securities) 76010Y103 (CUSIP Number) December 31, 2023 (Date of Event which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: Rule 13d-1(b) Rule 13d-1(c) Rule 13d-1(d) * The remainder of this cover page shall be filled out for a reporting persons initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be filed for the purpose of Section 18 of the Securities Exchange Act of 1934 (Act) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). CUSIP No. 76010Y103 13G 1. NAMES OF REPORTING PERSONS Highland Management Partners VIII Limited 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (see instructions) (a)(b) 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION Cayman Islands NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5. SOLE VOTING POWER 0 6. SHARED VOTING POWER 4,256,415 (1) 7. SOLE DISPOSITIVE POWER 0 8. SHARED DISPOSITIVE POWER 4,256,415 (1) 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 4,256,415 (1) 10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (see instructions) 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 6.3% (2) 12. TYPE OF REPORTING PERSON (see instructions) CO (1) These shares are held of record by Highland VIII, Highland VIII-B and Highland VIII-C (each as defined in Item 2(a) of the Original Schedule 13G (as defined below)). HMP VIII Ltd (as defined in Item 2(a) of the Original Schedule 13G) is the sole general partner of HMP VIII LP (as defined in Item 2(a) of the Original Schedule 13G), which is the sole general partner of each of Highland VIII, Highland VIII-B and Highland VIII-C. Each of HMP VIII Ltd and HMP VIII LP may be deemed to have voting, investment and dispositive power with respect to these securities. Robert Davis, Daniel Nova (a member of the Issuers board of directors), Paul Maeder and Corey Mulloy are the directors of HMP VIII Ltd and may be deemed to share voting, investment and dispositive power with respect to these securities. (2) This percentage is calculated based on 67,223,096 shares of Class A Common Stock outstanding as of November 30, 2023, as reported by the Issuer in its Form 10-Q for the quarter ended October 31, 2023, filed with the United States Securities and Exchange Commission on December 6, 2023 (the Form 10-Q). CUSIP No. 76010Y103 13G 1. NAMES OF REPORTING PERSONS Highland Management Partners VIII Limited Partnership 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (see instructions) (a)(b) 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION Cayman Islands NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5. SOLE VOTING POWER 0 6. SHARED VOTING POWER 4,256,415 (1) 7. SOLE DISPOSITIVE POWER 0 8. SHARED DISPOSITIVE POWER 4,256,415 (1) 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 4,256,415 (1) 10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (see instructions) 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 6.3% (2) 12. TYPE OF REPORTING PERSON (see instructions) PN (1) These shares are held of record by Highland VIII, Highland VIII-B and Highland VIII-C. HMP VIII Ltd is the sole general partner of HMP VIII LP, which is the sole general partner of each of Highland VIII, Highland VIII-B and Highland VIII-C. Each of HMP VIII Ltd and HMP VIII LP may be deemed to have voting, investment and dispositive power with respect to these securities. Robert Davis, Daniel Nova (a member of the Issuers board of directors), Paul Maeder and Corey Mulloy are the directors of HMP VIII Ltd and may be deemed to share voting, investment and dispositive power with respect to these securities. (2) This percentage is calculated based on 67,223,096 shares of Class A Common Stock outstanding as of November 30, 2023, as reported in the Form 10-Q. CUSIP No. 76010Y103 13G 1. NAMES OF REPORTING PERSONS Highland Capital Partners VIII Limited Partnership 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (see instructions) (a)(b) 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION Cayman Islands NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5. SOLE VOTIN