Rackspace Technology Global Announces Final Results of Tender Offer
September 10 2020 - 8:05AM
Rackspace Technology Global, Inc. (NASDAQ: RXT) (the “Company”), a
leading end-to-end multicloud technology solutions company, today
announced the final results for its previously announced tender
offer (the “Tender Offer”) to purchase for cash up to $600.0
million aggregate principal amount of its approximately $1,120.2
million outstanding 8.625% Senior Notes due 2024 (the “Notes”). The
Tender Offer expired at the end of the day, 12:00 midnight, New
York City time on Wednesday, September 9, 2020 (the “Expiration
Time”).
On August 27, 2020, the Company purchased
$507.636 million aggregate principal amount of Notes that were
tendered at or prior to the end of the day, 12:00 midnight, New
York City time on Tuesday, August 25, 2020 (the “Early Tender
Time”). On September 10, 2020, the Company was advised by Global
Bondholder Services Corporation, as Depositary for the Tender
Offer, that after the Early Tender Time and at or prior to the
Expiration Time, an additional $7,320,000 million in aggregate
principal amount of the outstanding Notes had been validly tendered
and not withdrawn in the Tender Offer.
Subject to the terms and conditions of the
Tender Offer, as described in the Offer to Purchase, and the press
release dated August 26, 2020, the Company has accepted for
purchase all Notes validly tendered and not validly withdrawn prior
to the Expiration Time, with the settlement date for such purchase
expected to occur on or about September 11, 2020.
About Rackspace Technology
Rackspace Technology is a leading end-to-end
multicloud technology services company. We can design, build and
operate our customers’ cloud environments across all major
technology platforms, irrespective of technology stack or
deployment model. We partner with our customers at every stage of
their cloud journey, enabling them to modernize applications, build
new products and adopt innovative technologies.
Rackspace Technology Safe Harbor Statement
Some of the statements in this news release
constitute “forward-looking statements” that do not directly or
exclusively relate to historical facts. The forward-looking
statements made in this release reflect the Company’s intentions,
plans, expectations, assumptions and beliefs about future events
and are subject to risks, uncertainties and other factors, many of
which are outside of the Company’s control. Known risks include,
among others, the risks included in Rackspace Technology, Inc.’s
filings with the U.S. Securities and Exchange Commission. Because
actual results could differ materially from the Company’s
intentions, plans, expectations, assumptions and beliefs about the
future, you are urged to view all forward-looking statements
contained in this press release with caution. The Company does not
undertake any obligation to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise.
IR Contact Investor Relations
IR@rackspace.com
PR Contact Natalie Silva Rackspace Technology
Corporate Communications publicrelations@rackspace.com
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