Rackspace Technology Inc, a multi-cloud technology service vendor, has filed Form S-1 Registration Statement on July 10, 2020 with the U.S Securities and Exchange Commission to raise up $100 million in the IPO. Pricing terms are yet to announce.
The company served more than 120,000 customers from 120 countries in 2018 and 2019 by designing, building and operating their cloud environments across every major technology platform.
The San Antonio, Texas-based company was founded in 1998 and booked $2.5 billion in revenue for the 12 months ended March 31, 2020. The company plans to list on the Nasdaq under the symbol “RXT”.
Goldman Sachs, Citigroup, JPMorgan, RBC Capital and Evercore are underwriters for the IPO.
The company engages Paul, Weiss, Rifkind, Wharton & Garrison LLP as US Securities Counsel, and PricewaterhouseCoopers LLP as Independent Auditor.
The company was first going public in 2008 but leveraged buyout by Apollo Global Management in 2016 for $4.3 billion.
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