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 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 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 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 (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.
Rackspace Technology (Nasdaq: RXT) reported a strong third quarter for 2020, with revenues reaching $682 million, up 13% year-over-year. The company achieved record bookings of $315 million, a 64% increase, while adjusted EBITDA was $191 million, maintaining a margin of 28%. Despite a net loss of $101 million or $(0.54) per diluted share, adjusted earnings per share rose 36% to $0.19. Rackspace is raising its full-year guidance, projecting growth in consolidated revenue and core revenue as multicloud adoption accelerates globally.
Rackspace Technology (NASDAQ: RXT) will co-sponsor the Cloud — The Enabler of Innovation virtual event alongside Amazon Web Services and the International Air Transport Association on November 12 at 10:00 am CT. CTO Tolga Tarhan will keynote, discussing the critical role of cloud technology in driving innovation through methodologies like DevOps and cloud-native approaches. A panel will follow, addressing prevalent misconceptions about cloud adoption and its future. The event highlights Rackspace's commitment to advancing cloud solutions for long-term growth.