Company preannounces double-digit Q3 revenue growth. ... 2020 … Basu said Rackspace's recent strategic acquisitions have boosted earnings, which … Rackspace Technology has filed to raise $754 million in a U.S. IPO. The company had been exploring an IPO for the last two years, but its weak organic growth and large debt, accumulated due to its $4.3 billion leveraged buyout by Apollo in 2016 and subsequent acquisitions, had stopped it … Rackspace did grow in Q1 2020, however. The tech IPO scene for the rest of 2020 looks strong despite the coronavirus pandemic, upcoming presidential election, and economic slump. Cloud-service firm Rackspace — owned by private equity firm Apollo Global Management since its $4.3 billion buyout in 2016 — filed for an IPO on Friday. A download-able weekly list of all SPAC (Special Purpose Acquisition Company) IPO transactions. Rackspace’s float could rank as high as 19th, behind Zoom Information’s completed USD 934.50 million sale in June and GoHealth’s USD 913.50 million debut on Nasdaq earlier this month. In 2008, a Rackspace IPO hit the market. Deliveroo’s last funding round valued the firm at £1.6 billion (in 2018). Investor's Business Daily 08/06/2020 04:10 PM ET Rackspace IPO Flops As Trading Begins, Pricing At Low End Of Its Range Rackspace Technology (RXT) returned to the public market Wednesday with an initial public offering that underperformed. Other Ticker Details RXT Company Name Rackspace Technology, Inc. Earnings Call Date 10-11-2020 Time (ET) 17:00 Fiscal Quarter Q3 Fiscal Year The SCOOP ratings should not be taken as investment advice. Cloud services are very popular. The IPO market continues the strong summer momentum this week with deals including Vertex (VERX) and Vital Farms (VITL).There are a total of nine deals on the calendar this week (two have not set a date for pricing yet but intend to try for this week.) Cloud services firm Rackspace Technology Inc, owned by private equity firm Apollo Global Management, filed for a U.S. initial public offering on Friday. And Rackspace was one of the first to meet that need. Rackspace Technology has priced its IPO of 33.5M common shares at $21/share, for gross proceeds of ~$703.5M (~$809M if the underwriters exercise their option).Underwriters' over-allotment is … A Rackspace IPO means the company could return to public trading less than four years after going private. ... called an initial public offering (IPO). Rackspace is registered under the ticker NASDAQ:RXT . The firm provides enterprises of all sizes with computing infrastructure and related software consulting services. The company grew 7.6% in Q1 2020. In 2019, Rackspace reported revenue of $2.44 billion and a net loss of $102.3 million. ". IPO Date Rackspace Technology (NASDAQ: RXT) earnings for the cloud company’s second quarter of 2020 have RXT stock falling after markets closed on Monday. Rackspace stock traded on the NYSE under the ticker symbol RAX. Jun 11, 2020, 1:03pm CDT. 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. The company will be the result of a merger between coffee giants Jacobs Douwe Egberts and Peet’s Coffee. Rackspace Again A Public Company After Disappointing IPO. Disclaimer: A SCOOP Rating (Wall Street Consensus of Opening-day Premiums), is a general consensus taken, at press time, from Wall Street and investment professionals concerning how well an IPO might perform when it starts trading. It will become the second largest company of its kind by volume, after Nestlé, and operate in more than 140 countries. As society grows and uses technology to connect, people need data storage. Zephyr, the M&A database published by Bureau van Dijk, shows 1,023 IPOs have been announced globally in 2020 to date. Rings the Opening Bell in Celebration of its IPO Date & Time Aug 5, 2020 9:15am - 9:30am Location Nasdaq MarketSite Tower, 4 Times Square New York Rackspace Technology, Inc. Date Price Range Price Currency Shares Actions; 2148.HK. 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. Shares of company innovation business Rackspace tanked on Wednesday following a going public, much like they performed in 2008 after a previous IPO. It began trading on the Nasdaq under the ticker RXT. On … The Rackspace IPO offered 33.5 million shares at $21, the low end of its price range of $21 to $24. Dear Mr. Kauten: On behalf of Rackspace Technology, Inc. (the “Company”), we are submitting this letter, which updates our previous letter sent on July 20, 2020, to assist the staff (the “Staff”) of the Securities and Exchange Commission (the “Commission”) in its review of the Company’s Registration Statement on Form S-1 (File No. Article content. Apollo Takes Rackspace from Public to Private. This … The managed cloud company debuted on Nasdaq at $21 per share, then sank to just above $16 by the end of the day. Everything you need to know about the Rackspace Technology IPO including Offer Price, Filed Date, IPO Date, Offer Shares, Dealsize and Underwriters. Stock Symbol NASDAQ:RXT ; Valuation at IPO $3.5B; Money Raised at IPO $703.5M; IPO Share Price $21.00; IPO Date Aug 4, 2020 Dear Mr. Kauten: On behalf of Rackspace Technology, Inc. (the “Company”), we are submitting this letter to assist the staff (the “Staff”) of the Securities and Exchange Commission (the “Commission”) in its review of the Company’s Registration Statement on Form S-1 (File No. 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. Apollo weighing Rackspace IPO: Reuters April 17, 2020 Craig Gambol Zephyr Apollo Global Management is planning an initial public offering (IPO) of cloud services company Rackspace Holding, people familiar with the matter told Reuters. Rackspace Technology, Inc. (“Rackspace Technology”) today announced the launch of its initial public offering of 33,500,000 shares of its common stock. ... Goldman led Rackspace's previous IPO, Basu said. Its most recent investment – £459 million from Amazon – may have given the business the momentum it … Another Cloud IPO Has a Triple-Digit Debut, But Beware A hot market for tech stocks is stoking demand for fast-growing companies like nCino. Rackspace leases server space and helps corporations store and access data in the cloud. - Renaissance Capital Updated Oct 30, 2020. Vesync Co Ltd: HKSE: Jun 28, 2020--HKD-Expected: RAACU. Rackspace shares tipped over 20% to $1617, a comparable efficiency to their first day of trading 12 years earlier. JDE Peet’s could go public in the second half of 2020, but there is no confirmed date or expected valuation for the IPO. Their stock opened with $21.00 in its Aug 4, 2020 IPO. It has hinted at a 2020 IPO after short-lived talks about a merger with Uber collapsed. Look out for second-tier candidates like Rackspace. Analysis includes total gross proceeds, announcement deadline date (and number of months left until deadline), % held in trust, and list of symbols for all trading securities included in the unit. SAN ANTONIO, Texas, October 21, 2020 – Rackspace Technology (Nasdaq: RXT) announces today the appointment of services industry veteran Amar Maletira as President and Chief Financial Officer, effective November 23, 2020.Current CFO Dustin Semach has resigned to take a new career opportunity. Apollo Global Management acquired Rackspace in November 2016. There have been 431 IPOs on the US stock market this year, as of December 9, 2020. 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