When the form loads, it sets ResizeRedraw to true so the form repaints itself whenever it is resized.

' Redraw on resize.
Private Sub Form1_Load(ByVal sender As System.Object, ByVal _
    e As System.EventArgs) Handles MyBase.Load
    Me.ResizeRedraw = True
End Sub

Private Sub Form1_Paint(ByVal sender As Object, ByVal e As _
    System.Windows.Forms.PaintEventArgs) Handles Me.Paint
    ' Make things smoother.
    e.Graphics.SmoothingMode = SmoothingMode.AntiAlias

    ' Create the text path.
    Dim path As New GraphicsPath(FillMode.Alternate)

    ' Draw text using a StringFormat to center it on the
    ' form.
    Using font_family As New FontFamily("Times New Roman")
        Using sf As New StringFormat()
            sf.Alignment = StringAlignment.Center
            sf.LineAlignment = StringAlignment.Center
            path.AddString("Hollow Text", font_family, _
                CInt(FontStyle.Bold), 100, _
                Me.ClientRectangle, sf)
        End Using
    End Using

    ' Fill and draw the path.
    e.Graphics.FillPath(Brushes.Blue, path)
    Using pen As New Pen(Color.Black, 3)
        e.Graphics.DrawPath(pen, path)
    End Using
End Sub

Next the form makes a GraphicsPath object and adds text to it. It uses a StringFormat object to center the text on the form's client area.

The code then fills the GraphicsPath with a blue brush and then draws its outline with a thick black pen.