We advised Rent the Runway on the offering

Davis Polk advised Rent the Runway, Inc. (RTR) in connection with the SEC-registered rights offering of its Class A common stock for up to an aggregate amount of $15 million. The Class A common stock is listed on the Nasdaq Global Market under the symbol “RENT.”

Since its founding in November 2009, RTR has built the world’s first shared designer closet with thousands of styles by hundreds of brand partners. RTR gives customers access to its “unlimited closet” through its subscription offering or the ability to rent a-la-carte through its reserve offering. It also gives subscribers and customers the ability to buy its products through its resale offering. RTR’s Closet in the Cloud offers a wide assortment of items for every occasion, from evening wear and accessories to ready-to-wear, workwear, denim, casual, maternity, outerwear, blouses, knitwear, loungewear, jewelry, handbags, activewear and ski wear.

The Davis Polk capital markets team included partner Pedro J. Bermeo, counsel Jenna M. Godfrey and associate Yusuke Tsuzuki. Partner Kara L. Mungovan, counsel Yixuan Long and associates Fred (Chen) Fu and Benjamin Yi provided tax advice. Members of the Davis Polk team are based in the New York and Washington DC offices.

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