Rent the Runway Announces Pricing for Oversized High-End Initial Public Offering | New

NEW YORK, October 26, 2021 (GLOBE NEWSWIRE) – Rent the Runway, Inc. (“Rent the Runway”) today announced the price of its initial public offering plus 17,000,000 Class A common shares to a public price of $ 21.00 per share. In addition, Rent the Runway has granted the underwriters a 30-day option to purchase up to an additional 2,550,000 of its Class A common shares. This represents an increase of 2,000,000 shares over the size of the previously announced offer of 15,000,000 shares. The shares are expected to begin trading on the Nasdaq Global Select market on October 27, 2021 under the symbol “RENT”. The offer is scheduled to close on October 29, 2021, subject to the satisfaction of the usual closing conditions.

Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC and Barclays Capital Inc. are acting as principal bookkeepers for the proposed offering. Credit Suisse Securities (USA) LLC, Piper Sandler & Co., Wells Fargo Securities, LLC, JMP Securities LLC and KeyBanc Capital Markets Inc. act as co-book managers, and Telsey Advisory Group LLC acts as co- manager for the proposed offer.

A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on October 26, 2021. The offering is being made only by means of a prospectus. A copy of the final prospectus may be obtained, when available, from: Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, by telephone at (866) 471-2526, or by e-mail to [email protected]; Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014; and Barclays Capital Inc., c / o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by calling (888) 603-5847 or by email at [email protected].

This press release does not constitute an offer to sell or the solicitation of an offer to buy such securities, and there will be no sale of such securities in any state or jurisdiction in which such an offer, solicitation or sale would be illegal before registration. or qualification under the securities laws of any such state or jurisdiction.

About Rent the Runway Founded in 2009, Rent the Runway is disrupting the multi-billion dollar fashion industry and changing the way women dress with Closet in the Cloud, the first and largest closet in creators shared to the world. RTR’s mission has remained the same since its founding: to help women feel better every day. With RTR, customers can subscribe, rent à la carte items and resell them in stores of over 750 designer brands. The Closet in the Cloud offers a wide assortment of millions of items for every occasion, from evening wear and accessories to ready-to-wear, workwear, denim, casual, maternity, outerwear, blouses, knitwear, loungewear, jewelry, handbags, sportswear, ski wear, household items and children’s clothing. RTR has built a two-way discovery engine, which connects deeply engaged customers and differentiated brand partners on a powerful platform built around its brand, data, logistics and technology. Under the leadership of CEO and co-founder Jennifer Hyman, RTR was named five times in CNBC’s “Disruptor 50” in ten years, and was placed four times on Fast Company’s Most Innovative Companies list, while Hyman herself was named in “TIME 100: The World’s Most Influential” and as one of People magazine’s “Women Who Change the World”.

Contacts Alison Rappaport [email protected]

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