Rackspace starts preparation for new IPO

News IT Global 13 JUL 2020
Rackspace starts preparation for new IPO
Rackspace Technology has started preparations for a new initial public offering. The company said it has filed a registration statement with the Securities and Exchange Commission for a listing on the Nasdaq Stock Market but did not specify how many shares will be offered or for how much. 

Rackspace was a public company until it was bought by Apollo Global Management in a deal worth USD 4.3 billion. The company recently changed its name to Rackspace Technology.

For the IPO, Goldman Sachs, Citigroup and JP Morgan will serve as joint lead book-running managers and as representatives of the underwriters. RBC and Evercore Group will also serve as book-running managers for the proposed offering. Barclays, BMO, Credit Suisse, Deutsche Bank and HSBC will serve as bookrunners while LionTree Advisors, Siebert Williams Shank & Co, Drexel Hamilton and Apollo Global will serve as co-managers. 

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IT

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Rackspace

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Shareholders & subsidiaries, Corporate strategy, Financial funding

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