SAN ANTONIO, April 12, 2024 (Globe Newswire) — Rackspace Technology® (NASDAQ: RXT) Rackspace (“Rackspace” or the “Company”), a leading provider of end-to-end hybrid, multi-cloud, and AI technology solutions, today announced that its indirect subsidiary, Rackspace Finance LLC (the “New Company”) announced the final results of a previously published proposal. (i) ( A ) Exchange a portion of the Existing Secured Notes for new 3.50% FLSO Senior Secured Notes due 2028 issued by the New Issuer (the “Exchange Notes”); (collectively, the “Exchange Offer”), and (ii) funds (the “Financing Offer” and together with the Exchange Offer, the “Offer”) purchased by the Issuer for termination up to the 2028 Expiration Date by the New Issuer. new senior secured lien lien loan. In each case, the Offering Memorandum, dated March 14, 2024, as amended by the Company’s press release dated March 29, 2024, the “Offering Memorandum”. The Exchange Offer expired at 5:00 p.m. New York City time on April 12, 2024 (the “Expiration Date”).
The transaction agent, Epiq Corporate Restructuring, LLC (the “Transaction Agent” or “Epiq”) reports that as of the Expiration Date, the New Issuer has received valid and unwithdrawn bids from Eligible Holders. The total principal amount of the existing issuers is $138,427,000. Secured Notes (or 75.9% of the existing secured notes outstanding prior to the commencement of the Exchange Offer). This includes an additional aggregate principal amount of $5,156,000 of existing secured notes validly tendered (but not validly drawn) on or after March 28, 2024. The new issuer intends to settle the exchange offer with respect to such additional existing secured notes on April 16, 2024.
About rackspace technology
Rackspace Technology is a leading provider of end-to-end hybrid, multicloud, and AI solutions. We design, build, and operate your cloud environment across all major technology platforms, regardless of technology stack or deployment model. We work with you every step of your journey to the cloud, enabling you to modernize applications, build new products, and deploy innovative technologies.
Forward-looking statements
The Company has made forward-looking statements in this press release that are subject to risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are or may be “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and the safeguards provided are Created on the basis of harbor protection. Below that. These forward-looking statements include statements regarding the offer and our ability to complete the offer within the expected time period or at all. The forward-looking statements made in this press release speak only as of the date on which they are made. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise. Forward-looking statements may include forward-looking statements such as “expects,” “intends,” “plans,” “anticipates,” “believes,” “confidence,” “continues,” “suggests,” It can be identified by various words such as “seek” and “may”. “may,” “should,” “estimate,” “predict,” “may,” “goals,” “objectives,” “objectives,” “plans,” “projects” and similar expressions. . These forward-looking statements are based on management’s current beliefs and assumptions and on information currently available to management. The Company believes that these statements involve risks and uncertainties, many of which are beyond the Company’s control, that may cause future events or results to differ materially from those stated or implied in this press release. Warn you of the possibility. These include the Company’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and the Company’s Annual Report on Form 10-K, Current Reports on Form 8-K, and the documents entitled “Risk Factors” and “Management’s Discussion and Analysis.” As set forth in other filings with the SEC, including Sec. Described in “Summary of Financial Condition and Operating Results.”
media contact
Natalie Silva
publicrelations@rackspace.com
Investor information contact information
Sagar Hebbar
ir@rackspace.com
