At the same time, businesses are increasingly turning to the use of more than one cloud solution at a time to enhance performance. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. Rackspace Technology files for IPO the second time Duration: 01:11 7/10/2020 Apollo-backed company Rackspace Technology is filing for an initial public offering for the second time. If there is an active cohort of investors trading off of buzz, that could explain part of the reason Rackspace stalled out of the gate. The underwriters for the offering are Goldman Sachs, Citigroup, JPMorgan, RBC Capital Markets, Evercore ISI, Barclays, BMO Capital Markets, Credit Suisse, Deutsche Bank Securities, HSBC, LionTree, Siebert Williams Shank, Drexel Hamilton and Apollo Global Securities. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. 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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. The Rackspace IPO offered 33.5 million shares at $21, the low end of its price range of $21 to $24. The IPO valued San Antonio, Texas-based Rackspace, which is owned by private equity firm Apollo Global Management, at $4.18 billion, excluding debt. Our principal executive offices are located at 1 Fanatical Place, City of Windcrest, San Antonio, Texas 78218. Rackspace Technology, a leading cloud hosting services provider, announced terms for its IPO on Monday. Rings the Nasdaq Stock Market Opening Bell in Celebration of its IPO, Silverback Therapeutics Rings the Nasdaq Stock Market Closing Bell in Celebration of its IPO. 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. Rackspace Technology (RXT) aims to go public from the sale of its common stock, according to an S-1 registration statement. 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. 04:19. Rackspace Technology Inc. (NASDAQ: RXT) entered the market with a whimper in its initial public offering. Last year, the company was renamed to Rackspace Technology with a new look, focus and strategy. Shares opened at $16.85, after pricing at $21 the day before. The company priced its shares at $21 each in Tuesday’s public offering, raising $703.5 million, with investors including mutual fund managers BlackRock, Fidelity, and Norges Bank. In 1997, Yoo brought on Dirk Elmendorf. RXT | Complete Rackspace Technology Inc. stock news by MarketWatch. Precisely how much Rackspace can put against its debts will depend on its IPO pricing. The company originally wanted to price its 33.5 million shares in the range of $21 to $24, with an overallotment option for an additional 5.025 million. Rackspace intends to use IPO proceeds to lower its debt-load, including both its term loan and senior notes. When did Rackspace Technology IPO? Shares opened at $16.85, after pricing at $21 the day before. Acquired by Apollo Global Management (NYSE: APO) in 2016, Rackspace designs, builds, and operates customers' cloud environments across all major technology platforms, irrespective of technology stack or deployment model. Precisely how much Rackspace can put against its debts will depend on its IPO pricing. View real-time stock prices and stock quotes for a full financial overview. The firm designs, builds and operates its customers’ cloud environments across all major technology platforms, irrespective of technology stack or deployment model. The cloud-service provider filed with a listing size of $100 million, a placeholder amount that will likely change, according to a filing Friday with the U.S. Securities and Exchange Commission. The company began doing application development work in addition to offering basic Internet access and web hosting. As Cymitar Technology Group grew, Patrick Condon was recruited from C… The company issued 33,500,000 shares at $21.00-$24.00 per share. The firm provides a … Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. 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. Rackspace Technology CEO on the company's IPO. In 1996, Richard Yoo started a small Internet service provider called Cymitar Network Systems out of his garage apartment in San Antonio, Texas. Rackspace Technology saw its share price plummet by 20 percent a day after its initial public offering (IPO), and its descent has continued in the following days. Rackspace Technology Inc., a technology services provider backed by private equity firm Apollo Global Management Inc., filed for a U.S. initial public offering. Should You Buy DoorDash (DASH) in Early Trading? Enter up to 25 symbols separated by spaces. Kevin Jones, CEO of Rackspace, joins "Squawk Alley" as the company is set to go public. Among others, that narrative has been used to explain the breakouts of Vroom and Lemonade, two lightly “tech-enabled” IPOs. Rackspace Technology named a leader for the fourth consecutive year Read More Applications Deploy cloud native and SaaS solutions across application platforms Collaboration. 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. Rackspace Technology, a global provider of cloud hosting solutions, has launched its initial public offering (IPO) of 33,500,000 shares of its common stock. Rackspace is an end-to-end multicloud technology services company. Rackspace Technology’s initial public offering got off to a rocky start in its Nasdaq debut on Wednesday as the San Antonio-based cloud services company saw its stock plunge almost 20 percent before opening.. Shares opened at $16.85, according to Reuters – 19.8 percent lower than the $21-per-share pricing Rackspace had announced Tuesday. Rackspace Technology, a global provider of cloud hosting solutions, has launched its initial public offering (IPO) of 33,500,000 shares of its common stock.The initial public offering price is expected to be between $21.00 and $24.00 per share. 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. Iain Thomson in San Francisco Fri 10 Jul 2020 // 20:30 UTC Almost four years after going private, Rackspace is once again dipping its toes into the public market by filing for an IPO in the US. These symbols will be available throughout the site during your session. The company served over 120,000 customers across 120 countries in 2018 and 2019, including more than half of the Fortune 100. Rackspace intends to use IPO proceeds to lower its debt-load, including both its term loan and senior notes. Ultimately, Rackspace handles all of this. The firm provides enterprises of all sizes with computing infrastructure and related software consulting services. The article Cloud hosting services provider Rackspace sets terms for $754 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Palantir, Rackspace Lead a Wave of Tech IPOs July 17, 2020 by George Leopold Cloud and software vendors of various stripes and high-flying big data analytics provider Palantir Technologies have gauged financial market sentiments and decided now is the time to launch initial stock offerings. It plans to list on the Nasdaq under the symbol RXT. General Information: Business: ... from Wall Street and investment professionals concerning how well an IPO might perform when it starts trading. In addition, Rackspace Technology expects to grant to the underwriters a 30-day option to purchase up to an additional 5,025,000 shares of common stock at the initial public offering price, less underwriting discounts and commissions. RXT | Complete Rackspace Technology Inc. stock news by MarketWatch. Since its privatisation in 2016, Rackspace has focused more on customer service rather than its previous role as a cloud provider. Rackspace Technology Inc. intends to issue 33.5 million shares of stock in its pending initial public offering. On August 8, 2008, Rackspace opened for trading on the New York Stock Exchange under the ticker symbol "RAX" after its initial public offering (IPO) in which it raised $187.5 million. 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. node.dataset.value : node.getAttribute('data-value'); if (selectedValue) { for (var j = 0; j < node.options.length; j++) { if(node.options[j].value === selectedValue) { node.options[j].selected = 'selected';break;}}}}}, Renaissance International ETF (symbol: IPOS), Do Not Sell My Personal Information (CA Residents Only). R ackspace Technology, a leading cloud hosting services provider, announced terms for its IPO on Monday. The company expects to use the net proceeds from this offering to pay down its debt, as well as for general corporate purposes. The initial public offering included 15,000,000 shares of its common stock at a price of $12.50 per share. Rackspace Technology returned to the public market Wednesday with an initial public offering that underperformed.The Rackspace IPO raised $704 million but priced at the low end of its range. SAN ANTONIO--(BUSINESS WIRE)--Rackspace Technology, Inc. (“Rackspace Technology”) today announced the launch of its initial public offering of … 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. Wed, Aug 5 2020 12:24 PM EDT. Rackspace Technology has filed a registration statement on Form S-1 with the Securities and Exchange Commission for an initial public offering. © 2020, Nasdaq, Inc. All Rights Reserved. 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. The SCOOP ratings should not be taken as investment advice. Yes! Recently, businesses have moved to the cloud, not only to drive cost, scale and reliability benefits, but also to create new revenue opportunities. Rackspace held its first IPO in August 2008 when it raised $187.5 million in a modified Dutch auction. 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. Rackspace Technology, a leading cloud hosting services provider, announced terms for its IPO on Monday. 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. Rackspace Technology Inc. (NASDAQ: RXT) entered the market with a whimper in its initial public offering. Cloudspace If there is an active cohort of investors trading off of buzz, that could explain part of the reason Rackspace stalled out of the gate. US IPO Week Ahead: DoorDash and Airbnb kick off the unicorn parade in a 9 IPO week, Airbnb prices IPO well above the range at $68, raising $3.5 billion in the largest IPO of 2020, var dom1 = document.querySelector('#form1783 #field1');var field1 = new LiveValidation(dom1, {validMessage: "", onlyOnBlur: false, wait: 300});field1.add(Validate.Presence, {failureMessage:"This field is required"});field1.add(Validate.Format, {pattern: /(^[A-Z0-9!#$%&'\*\+\-\/=\?\^_`\{\|\}~][A-Z0-9!#$%&'\*\+\-\/=\?\^_`\{\|\}~\.]{0,62}@(([A-Z0-9](?:[A-Z0-9\-]{0,61}[A-Z0-9])?)(\.[A-Z0-9](?:[A-Z0-9\-]{0,61}[A-Z0-9])? Rackspace Technology was founded in 1998 and booked $2.5 billion in revenue for the 12 months ended March 31, 2020. Rackspace Technology CEO on the company's IPO. Summary Rackspace Technology has filed to raise $754 million in a U.S. IPO. 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 … 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. Also over 12 million shares had moved as of 12:30 p.m. Eastern. It began trading on the Nasdaq under the ticker RXT. The managed cloud company has transformed in the four years since it privatized from … by Joe Panettieri • Jun 8, 2020. Rackspace Technology™ is a leading end-to-end multicloud solutions expert. Cloud services firm Rackspace Technology Inc sold shares in its initial public offering (IPO) on Tuesday at $21 per share, the bottom end of its target range, to raise $703.5 million, the company said. ". 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 ? The San Antonio, TX-based company plans to … 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 views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Renaissance Capital is the global leader in providing pre-IPO institutional research and management of IPO-focused investment products. Rackspace Technology Inc., a technology services provider backed by private equity firm Apollo Global Management Inc., filed for a U.S. initial public offering. Rackspace Technology Inc. (NASDAQ: RXT) entered the market with a whimper in its initial public offering. (RXT) raised $754 million in an initial public offering on Wednesday, August 5th 2020. The SCOOP Rating does not reflect the opinions of anyone associated with IPOScoop.com. Rackspace Technology has revealed the terms of its planned return to the stock market. - Renaissance Capital It is expected to price during the week of August 3, 2020. Rackspace Technology Files For IPO Four Years After Going Private. ". 15 Hot Upcoming IPOs to Watch For in 2020 and 2021 The most exciting IPOs expected during the rest of 2020 and into 2021 range from a popular home-rental app to an old-guard pet retailer. 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 The rates of new confirmed COVID-19 cases in America have risen... People in the U.K. began receiving the Pfizer coronavirus... 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