Rackspace Technology (RXT) Prices 33.5M Share IPO at $21/Sh

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Go back to Rackspace Technology (RXT) Prices 33.5M Share IPO at $21/Sh

Rackspace IPO prices at bottom of target range to raise about $703 million

August 4, 2020 5:58 PM EDT

(Reuters) - Cloud services firm Rackspace Technology Inc (NASDAQ: RXT) 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.

The IPO valued San Antonio, Texas-based Rackspace, which is owned by private equity firm Apollo Global Management (NYSE: APO), at $4.18 billion, excluding debt.... More