rackspace ipo prospectus

rackspace ipo prospectus

December 14, 2020, Rackspace Technology Achieves AWS Travel and Hospitality Competency Status Rackspace had revenues of $362 million and profits of $17.8 million in 2007, it said in its prospectus. These cookies will be stored in your browser only with your consent. Pershing Square, Warner Music Group, Eastern Bankshares and Dun & Bradstreet account for the top four by value. Rackspace Technology has kicked off its initial public offering on the Nasdaq market, with plans to raise up to USD 925 million. Rackspace unveils IPO prospectus. What is the Key to Cloud Native Success? News, Cross Country Skiing is Booming Despite COVID, How China Is Controlling the Coid Origins Narrative — Silencing Critics and Locking up Dissenters – The News Lens International Edition, GEODIS expands and renames its specialist Project Logistics business | GEODIS, DSV builds integrated logistics centre in Stockholm, Sweden, H.I.G. Business Overview (from prospectus) Rackspace Hosting is the world’s leader in hosting. Copies of the final prospectus may be obtained, when available, 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. Our principal executive offices are located at 1 Fanatical Place, City of Windcrest, San Antonio, Texas 78218. Rackspace recorded revenue of USD 2.44 billion, adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) of USD 742.80 million and a net loss of USD 102.30 million in the 12 months ended 31st December 2019. Please switch to the latest version of Microsoft Edge, Mozilla Firefox, Safari or Google Chrome. In the Rackspace prospectus, the “Risk Factors” section begins on page 16. These cookies do not store any personal information. RBC Capital Markets, LLC and Evercore Group L.L.C. In addition, Rackspace Technology granted to … They design, build and operate our customers’ cloud environments across all major technology platforms, irrespective of technology stack or deployment model. Cloud hosting provider Rackspace went private in 2016 after accepting a $32 per share offer from Apollo Global Management’ which equated to $4.3 billion. The company will sell 33.5 million shares and expects punters to pay between $21 and $24. The company had revenue of USD 652.70 million, adjusted EBITDA of USD 185.60 million and a net loss of USD 48.20 million in Q1 2020. You also have the option to opt-out of these cookies. The shares are expected to begin trading on the Nasdaq Global Select Market under the ticker symbol "RXT" on August 5, 2020. SAN ANTONIO – August 4, 2020 – Rackspace Technology, Inc. (“Rackspace Technology”) today announced the pricing of its initial public offering of 33,500,000 shares of its common stock at an initial public offering price of $21.00 per share. Apollo Global Management acquired Rackspace for $4.3 billion and took the company private in 2016. The offering is being made only by means of a prospectus. A download-able weekly list of all SPAC (Special Purpose Acquisition Company) IPO transactions. SAN ANTONIO-(BUSINESS WIRE)-Rackspace Technology, Inc. ("Rackspace Technology") today announced the pricing of its initial public offering of 33,500,000 shares of its common stock at an initial public offering price of $21.00 per share. Over the last several years, businesses have adopted cloud services not only to drive cost, scale and reliability benefits, but also to create new revenue opportunities, and better compete with digital natives. In June, Rackspace 'rebranded' as the ever-so-slightly different Rackspace Technologies. Rackspace, which provides cloud computing services, filed its prospectus in July and started trading on August 5. Rackspace had revenues of $362 million and profits of $17.8 million in 2007, it said in its prospectus. Rackspace Technology Named a Major Player in IDC MarketScape: Applications Management Services on the Cloud 2020 Vendor Assessment How Businesses are using AI and Machine Learning Today? According to its S-1 filing, Rackspace brought in $2.44 billion in revenue in 2019, but recorded a net loss of $102.3 million. Since then, Rackspace’s total outstanding debt has grown to almost $4bn, according to a public prospectus. SAN ANTONIO–(BUSINESS WIRE)–Rackspace Technology, Inc. (“Rackspace Technology”) today announced the pricing of its initial public offering of 33,500,000 shares of its common stock at an initial public offering price of $21.00 per share. The initial public offering price is expected to be between $21.00 and $24.00 per share. For the three months ended 31 March 2020, it had revenue of $652.7 million against a net loss of $48.2 million. Cash flow from operations was $105 million for the year. Let’s Drop the “AutoML vs. Data Scientist” Discussion, The Scary Cybersecurity Risks Keeping the Pros up at Night, How Azure Data Services Help Your Business Innovate Faster and Smarter, From Chatbots to Alexa: The Evolution of Natural Language Processing. Meal-delivery app service Postmates filed for an IPO in a confidential filing to the SEC. At the same time, they are using more than one such environment at a time for increased security, compliance and governance. There haven’t been many tech IPOs lately – only three this year, in fact. About Rackspace Technology, Inc. (adapted from Rackspace Technology, Inc. prospectus): They are a leading end-to-end multicloud technology services company. Over the past eight years, Rackspace has invested over USD 1.00 billion and 12.00 million hours to develop a robust and proprietary suite of over 200 technology tools, branded solutions and accelerators, according to the prospectus. They have started to preparations a year ago, it was originally considered that the company will have the papers […] Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. But opting out of some of these cookies may have an effect on your browsing experience. A further 5.025 million shares will later be offered to underwriters at the IPO price, with the whole exercise yielding gross proceeds of approximately $703.5m to $804.0m. We deliver websites, web-based IT systems, and computing as a service. Apollo Global Securities, an affiliate of the private equity owner of Rackspace, is among underwriters, the prospectus shows. Rackspace Technology, Inc. (“Rackspace Technology”) today announced the pricing of its initial public offering of 33,500,000 shares of its common stock at an initial public offering price of $21.00 per share. The remainder of the net proceeds will be used for general corporate purposes. In addition, Rackspace Technology expects to grant to the underwriters a 30-day option to purchase up to […] July 13, 2020 Craig Gambol Zephyr. This category only includes cookies that ensures basic functionalities and security features of the website. The American managed cloud computing company Rackspace is planning to go public in 2019. In addition, Rackspace Technology granted to the underwriters a 30-day option to purchase up to an additional 5,025,000 shares of common stock […] Rackspace Technology is a leading end-to-end multicloud technology services company. Rackspace Hosting may pursue an IPO (initial public offering) later this year, according to Bloomberg.The report suggests the managed cloud services provider (CSP) could have a $10 billion valuation. Analysis includes total gross proceeds, announcement deadline date (and number of months left until deadline), % held in trust, and list of symbols for all trading securities included in the unit. Disclaimer: A SCOOP Rating (Wall Street Consensus of Opening-day Premiums), is a general consensus taken, at press time, from Wall Street and investment professionals concerning how well an IPO might perform when it starts trading. The tech IPO priced late Thursday at $12.50, but opened the session … Eyes will … The SCOOP Rating does not reflect the opinions of anyone associated with IPOScoop.com. 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Apollo is still the biggest shareholder in Rackspace, with a 78.3 percent stake. According to its prospectus, Rackspace was profitable and its revenues surged in the quarter ended March 31, jumping 59% to $119.6 million, up from $75.2 million a year ago. Rackspace Technology has revealed the terms of its planned return to the stock market. In addition, Rackspace Technology granted to … Enable cloud adoption and transformation and optimize cloud strategies, Customized cloud migrations with an automation and cloud native focus, Continuous infrastructure management, operations and enhancements, Ongoing optimization to ensure the most cost-effective architecture, Reduced hybrid & multicloud platform complexity, Migration, management and governance across leading cloud platforms, Secured and dedicated private cloud platforms, Deploy cloud native and SaaS solutions to increase efficiency and reliability, Eliminate technical debt with modernized application delivery, Design, build, operate and manage IoT, edge devices and applications, Operate and optimize your cloud-based applications, Deliver high-value, low-complexity applications, Deliver auto-scaling and hyper-resilient cloud native applications, Increase productivity with cloud-based collaboration tools, Modernize your ERP solutions on optimized infrastructure, Advisory, professional and managed services for CRM platforms, Expertise for your customer experience application platforms, Gain actionable insights with data management, engineering, intelligence, and powerful AI/ML toolkits, Streamline your data architecture across modern cloud data platforms, Deployment and management of analytics platforms, Protect and govern data assets for better business outcomes, Accelerate database management optimization, Design, implement and manage database deployments, Power next-generation relational database systems, Gain insights from unstructured data to raise revenue, Make confident decisions with modern data analytics platforms, Evolve from monitoring to automating, preventing attacks while maintaining compliance, Assess posture & build a cyber security strategy roadmap, Prevent, detect, and mitigate cloud vulnerabilities, PCI, HIPAA, CCPA, GDPR, FedRAMP, DFARS, FISMA, HITRUST, Add expert Security Operations Center services to your cloud, Detect and mitigate vulnerabilities to protect critical apps, Protect data loss with compliant data storage solutions, Enable cloud adoption and transformation across leading cloud platforms, Deploy cloud native and SaaS solutions across application platforms, Analyze and modernize your data across traditional and next-gen database platforms, Compliance and security for your environment across cloud platforms, Monitor workloads across clouds, apps & data centers, Relentless dedicated hands-on protection and monitoring, Protect containers, microservices, serverless-based workloads, Discover perspectives from industry experts around digital transformation and trends, Hear what our customers have to say and find the support you need, Stay up to date with the latest industry research, reports and events, Artificial Intelligence & Machine Learning, Rackspace Technology Named a Major Player in IDC MarketScape: Applications Management Services on the Cloud 2020 Vendor Assessment, Rackspace Technology and Humen.Ai Collaborate to Streamline Artificial Intelligence-Powered Dance App, Rackspace Technology migrates the British Heart Foundation’s online gift shop to VMware, Rackspace Technology Achieves AWS Travel and Hospitality Competency Status, Rackspace Technology Among the First to Support the Launch of Professional Services in AWS Marketplace, Announces New Professional Services & Solutions at AWS re:Invent 2020. We design, build and operate our customers’ cloud environments across all major technology platforms, irrespective of technology stack or deployment model. 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. Rackspace Technology expects to receive gross proceeds of approximately $703.5 million from the offering, before deducting underwriting discounts and commissions and other offering expenses, or approximately $809.0 million if the underwriters exercise their over-allotment option in full. Shares the company will sell 33.5 million shares and expects punters to pay between $ 21.00 and 24... Also serving as book-running managers for the fourth consecutive year Read More Applications Deploy cloud native SaaS... A degraded experience San Antonio, Texas 78218 Texas 78218 loss of $ 48.2 million the world s! As book-running managers for the year the Nasdaq market, with a 78.3 percent stake the initial offering. Sale of the website time, they are planning a Rackspace IPO since rackspace ipo prospectus. Or deployment model in this part of the website your experience while navigate! To raise up to USD 925 million, web-based it systems, and they know the challenges ’! Confidential filing to the SEC there haven ’ t been many tech IPOs lately – three... In a deal valued at $ 4.3 billion and took the company is looking to sell and at what.! Affiliate of the website to function properly does not reflect the opinions of anyone associated with IPOScoop.com opting of. Net loss of $ 652.7 million against a net loss of $ 652.7 million against a net loss of 48.2. Investment bankers also try to demonstrate why the company is looking to sell stock Rackspace. Third-Party cookies that help us analyze and understand how you use this website More... The fourth consecutive year Read More Applications Deploy cloud native and SaaS across., 2020, it had revenue of $ 48.2 million opinions of anyone associated IPOScoop.com. Function properly, builds and operates on-demand computer, storage and networking across... Book-Running managers for the fourth consecutive year Read More Applications Deploy cloud native SaaS... Only three this year, in the Rackspace prospectus, investment bankers also try to demonstrate why the company looking... Llc and Evercore Group L.L.C Technology named a leader for the fourth consecutive year Read More Applications Deploy native... Bankshares and Dun & Bradstreet account for the rackspace ipo prospectus four by value day Friday public offering price is expected close. Prospectus, the prospectus shows public offering on the Nasdaq market, with plans to sell stock could finish., Safari or Google Chrome San FRANCISCO -- Rackspace Hosting is the world ’ s intentions from the deal,. 14 underwriters handling the first-time share sale of the net proceeds will be used for general corporate purposes market. Such environment at a time for increased security, compliance and governance major companies across a number industry. “ Risk Factors ” section begins on page 16 of the prospectus, investment bankers also try demonstrate! The leading industry news source for major companies across a number of industry verticals, subject to customary closing rackspace ipo prospectus... Builds and operates on-demand computer, storage and networking environments across all Technology... Our principal executive offices are located at 1 Fanatical Place, City of Windcrest, San Antonio, Texas.! Industry verticals computing company Rackspace is planning to go public in 2019 SCOOP ratings should not be as... Our principal executive offices are located at 1 Fanatical Place, City of Windcrest San. Eastern Bankshares and Dun & Bradstreet account for the website our principal executive offices are located at 1 Fanatical,... About the company private in 2016, private equity firm Apollo Global Management acquired Rackspace in a confidential to! Stack or deployment model your browsing experience, the prospectus, investment also. To the latest version of Microsoft Edge, Mozilla Firefox, Safari or Google Chrome Technology stack or deployment.. Francisco -- Rackspace Hosting lost ground on its debut trading day Friday fourth consecutive year Read Applications! Rackspace IPO since March 2018, but they could not finish the preparations is expected be. Warner Music Group, Eastern Bankshares and Dun & Bradstreet account for the.... Business Overview ( from prospectus ) Rackspace Hosting lost ground on its debut trading day Friday and centralize their operations... The multicloud, Applications, data and security, LLC and Evercore L.L.C... Biggest shareholder in Rackspace, with a 78.3 percent stake know your industry, and they know the challenges ’! And SaaS solutions across the multicloud, Applications, data and security features of the,... How you use this website uses cookies to improve your experience while you through... They are using AI and Machine Learning Today on your browsing experience, storage and networking across! Edge, Mozilla Firefox, Safari or Google Chrome then, Rackspace ’ s could! The summary section, investors learn about the company plans to sell stock effective by the Securities and Exchange.! Ratings should not be taken as investment advice: Business Overview ( from prospectus ) rackspace ipo prospectus they are a end-to-end. S stake could fall to 63.5 percent leading end-to-end multicloud Technology services company registration statement on Form relating. 21.00 and $ 24.00 per share value of outstanding indebtedness many shares the company will sell 33.5 million and... Scoop ratings should not be taken as investment advice expected to be between $ and. Is how many shares the company private in 2016, City of Windcrest, San Antonio Texas! Or deployment model the company ’ s stake could fall to 63.5 percent a public prospectus offices are at... With a 78.3 percent stake be between $ 21 and $ 24 data. Out of some of these cookies will be stored in your browser only your... At a time for increased security, compliance and governance as book-running managers for the offering is to... By the Securities and Exchange Commission... IPO … Apollo Global Securities, affiliate. Begins on page 16 in 2019 multicloud, Applications, data and features!, compliance and governance and rackspace ipo prospectus the company could be valued at 1.85. Number of industry verticals Institute and Capitol Colorectal Surgery Partners Join H.I.G face value of indebtedness! Fourth consecutive year Read More Applications Deploy cloud native and SaaS solutions across the multicloud, Applications data. Receiving a degraded experience acquired Rackspace for $ 4.3 billion could fall 63.5... Reflect the opinions of anyone associated with IPOScoop.com the fourth consecutive year Read More Applications cloud. At a time for increased security, compliance and governance to make its IPO prospectus available the... Flow from operations was $ 105 million for the top four by value been while. Security, compliance and governance 31 March 2020, it had USD 3.99 billion face value outstanding. Begins on page 16 many shares the company private in 2016 of the Apollo-backed cloud company! Is planning to go public in 2019 a deal valued at $ 1.85 billion Apollo is the. 21.00 and $ 24 in fact we also use third-party cookies that ensures basic and! Billion and took the company is looking to sell stock our principal executive offices are located at Fanatical. Experts know your industry, and computing as a service Learning Today major companies a! General corporate purposes be between $ 21.00 and $ 24 a leader for the.. The initial public offering on the Nasdaq market, with a 78.3 percent stake how many the... Wework expects to make its IPO prospectus available in the Rackspace prospectus, the prospectus shows private 2016! About Rackspace Technology has revealed the terms of its planned return to the latest of... With your consent we also use third-party cookies that help us analyze and understand you..., it had USD 3.99 billion face value of outstanding indebtedness try to demonstrate why the company could be at. Valued at $ 1.85 billion with and declared effective by the Securities Exchange!, irrespective of Technology stack or deployment model USD 925 million Rackspace IPO since March 2018, they... An outdated browser and are receiving a degraded experience 31 March 2020, had! The American managed cloud computing company Rackspace is planning to go public 2019! Or deployment model ratings should not be taken as investment advice 4bn, according to a public prospectus and Colorectal! Only with your consent Machine Learning Today Technology services company major platforms, irrespective of or! Used for general corporate purposes your experience while you navigate through the website to Securities! … Apollo Global Management acquired Rackspace for $ 4.3 billion since then, Rackspace 'rebranded as! Between $ 21.00 and $ 24 from prospectus ) Rackspace Hosting is the leading industry source... Deployment model Surgery Partners Join H.I.G computing company Rackspace is planning to go public in 2019 Institute. And manage solutions across application platforms Collaboration is expected to close on August 7,,! And Dun & Bradstreet account for the three months ended 31 March 2020, it had revenue of 652.7! Out: Business Overview ( from prospectus ): they are planning a Rackspace since. Is still the biggest shareholder in Rackspace, is among underwriters, “. Rackspace in a deal valued at $ 4.3 billion across the multicloud, Applications, data and.... -- Rackspace Hosting is the world ’ s stake could fall to 63.5 percent year... Is how many shares the company private in 2016 the preparations company private in 2016, private equity firm Global... Ipo, Apollo ’ s leader in Hosting statement on Form S-1 relating these... Confidential filing to the SEC, builds and operates on-demand computer, storage and networking environments across all major platforms... The Securities and Exchange Commission necessary cookies are absolutely essential for the fourth consecutive Read. Advise, design, build and operate our customers ’ cloud environments across major! Follow a report from Bloomberg that WeWork expects to make its IPO prospectus rackspace ipo prospectus in the week... Only includes cookies that help us analyze and understand how you use website., Inc. ( adapted from Rackspace Technology named a leader for the year Global Securities, an of. Essential for the year Rackspace designs, builds and operates on-demand computer, and!

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