SAN ANTONIO – July 10, 2020 – Rackspace Technology, Inc. (“Rackspace Technology”) today announced that it has filed a registration statement on Form S-1 with the Securities and Exchange Commission relating to the proposed initial public offering of its common stock. Rackspace Technology has applied for listing its common stock on the Nasdaq Global SELECT Market under the ticker symbol “RXT”. The number of shares to be offered and the price range for the proposed offering have not yet been determined.
Goldman Sachs & Co. LLC, Citigroup Global Markets Inc. and J.P. Morgan Securities LLC are serving as joint lead book-running managers and as representatives of the underwriters for the proposed offering. RBC Capital Markets, LLC and Evercore Group L.L.C. are also serving as book-running managers for the proposed offering. Barclays Capital Inc., BMO Capital Markets Corp., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc. and HSBC Securities (USA) Inc. are serving as bookrunners for the proposed offering. LionTree Advisors LLC, Siebert Williams Shank & Co., LLC, Drexel Hamilton, LLC and Apollo Global Securities, LLC are serving as co-managers for the proposed offering.
The offering will be made only by means of a prospectus. Copies of the preliminary prospectus, when available, may be obtained from: Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282 telephone: 1-866-471-2526, facsimile: 212-902-9316 or by emailing prospectus-ny@ny.email.gs.com; Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by telephone at 1-800-831-9146; or J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, collect telephone: 1-212-834-4533, or by emailing at prospectus-eq_fi@jpmchase.com.
A registration statement on Form S-1 relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor will there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Rackspace Technology
Rackspace Technology is a leading end-to-end multicloud technology services company. We design, build and operate our customers’ cloud environments across all major technology platforms, irrespective of technology stack or deployment model. We partner with our customers at every stage of their cloud journey, enabling them to modernize applications, build new products and adopt innovative technologies.
Rackspace Technology® (NASDAQ: RXT) is the operator of the full enterprise AI stack from governed private cloud to AI inference and agents in production. With an Outcomes-as-a-Service model built on secure infrastructure, data foundations, and forward-deployed engineering, Rackspace delivers business results for regulated and mission-critical industries where governance, sovereignty, and uptime are non-negotiable. Learn more at
www.rackspace.com.
This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking
statements generally relate to future events and can be identified by terminology such as “believe,” “may,” “will,” “potentially,” “estimate,” “continues,” “anticipate,” “intend,”
“could,” “would,” “project,” “plan,” “expect,” “is putting,” “designed to,” or the negative of such terms or other similar expressions, although not all forward-looking statements
contain these words.
These statements include, but are not limited to, Rackspace Technology’s relationship with NVIDIA and the NVIDIA Cloud Partner Program, its Enterprise AI Cloud strategy,
the anticipated capabilities, benefits and timing of its Institutional Sovereign Pod architecture, Rackspace’s outlook on the AI industry and its ability to deliver, operate, and
scale AI infrastructure and solutions for regulated, institutional and sovereign enterprises. Forward-looking statements are based on current expectations and assumptions
and are subject to risks and uncertainties that could cause actual results to differ materially, including, without limitation: Rackspace's ability to realize the anticipated
benefits of its relationship with NVIDIA and the NCP program; the availability, cost, and timing of deployment of NVIDIA and other third-party technology; Rackspace's ability
to develop, market, and scale the Institutional Sovereign Pod and related offerings on the anticipated timeline or at all; market acceptance of and demand for sovereign and
governed AI infrastructure solutions; competition in the AI infrastructure and cloud services markets; capital expenditure requirements associated with AI infrastructure
buildout; availability of financing for the AI infrastructure buildout on terms acceptable to Rackspace; Rackspace’s reliance on a limited number of technology partners,
including NVIDIA; cybersecurity, data privacy, and regulatory compliance risks associated with serving regulated and sovereign customers; general economic and industry
conditions; and other risks and uncertainties described in Rackspace's filings with the Securities and Exchange Commission, including its most recent Annual Report on Form
10-K and Quarterly Reports on Form 10-Q. Rackspace undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information,
future events, or otherwise, except as required by law.
