Welcome to our dedicated page for Rackspace Technology news (Ticker: RXT), a resource for investors and traders seeking the latest updates and insights on Rackspace Technology stock.
Rackspace Technology, Inc. reports developments tied to its hybrid cloud, multicloud, and enterprise AI solutions business. Company updates commonly cover Private Cloud and Public Cloud performance, managed services, professional services, security and compliance offerings, and customer cloud environments across major platforms including AWS, Microsoft Azure, and Google Cloud.
Rackspace news also includes partnerships and product initiatives for governed enterprise AI infrastructure, sovereign cloud services, cyber recovery, data migration, and managed operations for regulated or mission-critical workloads. Recurring corporate updates include quarterly results, earnings-call schedules, leadership appointments, and changes within the company's cloud business units.
Rackspace Technology (NASDAQ: RXT) announced early tender results for its cash tender offer of outstanding 8.625% Senior Notes due 2024. As of the early tender deadline on November 30, 2020, approximately $259.1 million, or 49.91%, of the Notes were validly tendered. The offer, which expires on December 14, 2020, will include all validly tendered Notes. Citigroup Global Markets Inc. serves as dealer manager for the offer. Investors are urged to review the terms and make decisions independently regarding their Notes.
Rackspace Technology (NASDAQ: RXT) will host a virtual event titled How Businesses are using AI and Machine Learning Today on December 9, 2020, at 10:00 am CT. Keynote speaker Jeremy Howard, a prominent data scientist, will discuss the capabilities and constraints of AI and ML. The event aims to address the skills gap many enterprises face when implementing AI/ML technologies, particularly accelerated by the pandemic. It will feature insights from industry leaders from Salesforce and Rackspace, providing a roadmap for businesses to successfully adopt these technologies.
Rackspace Technology (NASDAQ: RXT) announced that CEO Kevin Jones and CFO Amar Maletira will present at the Credit Suisse 24th Annual Technology Conference on November 30, 2020. They will participate in a fireside chat around 11:00 AM ET and will be available for investor meetings. Rackspace Technology is recognized as a leading end-to-end multicloud technology services company, assisting clients in optimizing their cloud environments and adopting innovative technologies.
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Rackspace Technology (NASDAQ: RXT) announces participation in the J.P. Morgan Ultimate Services Investor Conference on November 19, 2020. CEO Kevin Jones and CFO Dustin Semach will engage in a fireside chat at approximately 11:50 AM ET and are available for investor meetings. Rackspace is a premier multicloud technology solutions provider, facilitating cloud modernization and innovation for clients across various technology platforms. More details can be found on their Investor Relations website.
Rackspace Technology has priced its offering of $550 million aggregate principal amount of 5.375% Senior Notes due 2028 at an issue price of 100.000%. The closing is anticipated on December 1, 2020, pending customary conditions. The proceeds will refinance the 8.625% Senior Notes due 2024 and cover related expenses. The offering targets qualified institutional buyers and will not be registered under U.S. law. Rackspace Technology offers comprehensive multicloud technology services designed to optimize cloud environments for its clients.
Rackspace Technology has initiated a tender offer to buy back its outstanding 8.625% Senior Notes due 2024, totaling $519.23 million. The Tender Offer allows note holders to sell their notes for $1,045.00 each if tendered by November 30, 2020, including an early tender payment of $30.00. The offer expires on December 14, 2020. Accrued interest will also be paid. The offer is contingent on the success of a new note offering by the company. Citigroup Global Markets is the dealer manager for the offer.
Rackspace Technology announced a proposal to issue $550 million in senior notes due 2028, aiming to refinance existing 8.625% Senior Notes due 2024. The offering is subject to market conditions and will be targeted at qualified institutional buyers and non-U.S. investors. The net proceeds will be utilized for the refinancing and associated expenses. This private offering is exempt from the registration requirements of the Securities Act. The company emphasizes that this announcement is not an offer to buy or sell securities.
Rackspace Technology (NASDAQ: RXT) is enhancing Plus500's multicloud operations by migrating its services to Google Cloud while overseeing its existing VMware private cloud platform. The integration supports Plus500's online trading of over 2,000 securities and facilitates more than 3 million trades monthly. The collaboration also includes Rackspace's Managed Security services to ensure compliant data management. As Plus500 expands globally, the need for scalable solutions prompted the switch to Google Cloud.