Rackspace Technology, Inc.

Rackspace Technology, Inc. (RXT) priced its initial public offering on Aug 5, 2020 at $21.00 per share, within its $21.00–$24.00 range, raising $703.5M, and listed on Nasdaq Global Select. At the IPO price its market capitalization was about $4.18B. Goldman Sachs was lead-left underwriter, joined by Citigroup, J.P. Morgan and RBC Capital Markets and others. Paul, Weiss advised the company and Davis Polk advised the underwriters.

Rackspace Technology, Inc. is a multicloud technology services company that designs, builds and operates customers' cloud environments across major technology platforms. It helps customers modernize applications and build new products, combining proprietary technology with consultants and engineers.

Status

IPO

Ticker

RXT

Exchange

Nasdaq Global Select

Priced

Aug 5, 2020

IPO price

$21.00

Price range

$21.00–$24.00

Raised

$703.5M

Market cap at IPO price

$4.18B

First filed

Jul 10, 2020

Underwriters

Goldman Sachs, Citigroup, J.P. Morgan, RBC Capital Markets, Evercore ISI, Barclays, BMO Capital Markets, Credit Suisse, Deutsche Bank, HSBC, Siebert Williams Shank and Drexel Hamilton

Company counsel

Paul, Weiss

Underwriters' counsel

Davis Polk

Sector

Technology

Country / state

TX

Market cap at IPO price = shares outstanding after the offering (all classes, before the over-allotment option) × the IPO price, from the final prospectus.