The number of shares set to be sold, and the price range, have yet to be determined - but the company is thought to be looking to raise around $100m. I would like to receive Nasdaq communications related to Products, Industry News and Events.You can always change your preferences or unsubscribe and your contact information is covered by our Privacy Policy. Rackspace Technology, a leading provider of cloud management services, raised $704 million by offering 33.5 million shares at $21, the low end of the range of $21 to $24. The firm provides enterprises of all sizes with computing infrastructure and related software consulting services. At the $21 price, the entire offering was valued up to roughly $809 million. The company began doing application development work in addition to offering basic Internet access and web hosting. When the company began to develop Internet applications as its primary business, the company was re-formed as Cymitar Technology Group. Print. SAN ANTONIO, Nov. 23, 2020 (GLOBE NEWSWIRE) -- Rackspace Technology Global, Inc. (NASDAQ: RXT) today announced that Kevin Jones, Chief Executive Officer, and Amar Maletira, Chief Financial Officer, will present at the Credit Suisse 24th Annual Technology Conference on Monday, November 30, 2020. nodes[i].dataset.subscription : nodes[i].getAttribute('data-subscription'); if(status ==='true') {nodes[i].checked = true;}}};var nodes = document.querySelectorAll('#form1783 select[data-value]'); if (nodes) { for (var i = 0; i < nodes.length; i++) { var node = nodes[i]; var selectedValue = node.dataset ? Rackspace stock was last seen down about 18% at $17.23, in a range of $16.10 to $17.39 on the day thus far. We combine our expertise with the world’s leading technologies- across applications, data and security. The cloudy biz's stock market debut was in August 2008 – yeah, not great timing – and its shares lost about a fifth of their value. We changed our name to Rackspace Technology, Inc. from Rackspace Corp. on June 11, 2020 after changing our name to Rackspace Corp. from Inception Topco, Inc. on March 31, 2020. Precisely how much Rackspace can put against its debts will depend on its IPO pricing. In 2008 Rackspace Hosting, as … Rackspace Technology Inc. intends to issue 33.5 million shares of stock in its pending initial public offering. © 2020, Nasdaq, Inc. All Rights Reserved. Shares opened at $16.85, after pricing at $21 the day before. Rackspace Technology™ is a leading end-to-end multicloud solutions expert. Rackspace is an end-to-end multicloud technology services company. Rackspace Technology Inc. intends to issue 33.5 million shares of stock in its pending initial public offering. 04:19. Rackspace Technology (RXT) has priced its IPO of 33.5M common shares at $21/share, for gross proceeds of ~$703.5M (~$809M if the underwriters … Should You Buy DoorDash (DASH) in Early Trading? watch now. These trends have accelerated recently as businesses create and adapt to new economic and labor models and are increasingly looking for technologies that enable digital transformation and enhance productivity. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. Rackspace is among the tech firms that have benefited as companies have allowed employees to work remotely, with the pandemic driving up demand for cloud computing services. Recently, businesses have moved to the cloud, not only to drive cost, scale and reliability benefits, but also to create new revenue opportunities. The initial public offering price is expected to be between $21.00 and $24.00 per share. Goldman Sachs, Citi, J.P. Morgan, RBC Capital Markets, Evercore ISI, Barclays, BMO Capital Markets, Credit Suisse, Deutsche Bank, and HSBC are the joint bookrunners on the deal. Filed 2020-07-10 Terms Added 2020-07-27: For IPO Boutique's "scale of 1 to 5" BUY rating on Rackspace Technology, Inc., and our comprehensive analysis, click "Buy Market Research. The SCOOP Rating does not reflect the opinions of anyone associated with IPOScoop.com. IPO News for Rackspace Technology US IPO Weekly Recap: BigCommerce’s 201% first-day pop breaks records in an 8 IPO week 08/07/20 BigCommerce soars 201% and Rackspace drops 22% in year's best and worst IPO debuts 08/06/20 Apollo Global's Rackspace Technology prices IPO at $21, the low end of the range 08/05/20 Wed, Aug 5 2020 12:24 PM EDT. View real-time stock prices and stock quotes for a full financial overview. Rackspace Technology has filed a registration statement on Form S-1 with the Securities and Exchange Commission for an initial public offering. Filed 2020-07-10 Terms Added 2020-07-27: For IPO Boutique's "scale of 1 to 5" BUY rating on Rackspace Technology, Inc., and our comprehensive analysis, click "Buy Market Research. )+[a-z]{2,63}/i);}, failureMessage: "Value must not contain any URL's"});field5.add(Validate.Presence, {failureMessage:"This field is required"});field5.add(Validate.Length, {tooShortMessage:"Invalid length for field value", tooLongMessage: "Invalid length for field value", minimum: 4, maximum: 4});function handleFormSubmit(ele) { var submitButton = ele.querySelector('input[type=submit]'); var spinner = document.createElement('span'); spinner.setAttribute('class', 'loader'); submitButton.setAttribute('disabled', true); submitButton.style.cursor = 'wait'; submitButton.parentNode.appendChild(spinner); return true; }function resetSubmitButton(e){ var submitButtons = e.target.form.getElementsByClassName('submit-button'); for(var i=0;i