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SAN ANTONIO, April 12, 2024 (GLOBE NEWSWIRE) — Rackspace Technology® (NASDAQ: RXT) (“Rackspace” or the “Firm”), a number one end-to-end hybrid, multicloud, and AI know-how options firm, right this moment introduced the ultimate outcomes of the beforehand introduced provide by its oblique subsidiary Rackspace Finance, LLC (the “New Issuer”), to eligible holders in respect of any and all the 3.50% First-Precedence Senior Secured Notes due 2028 (the “Current Secured Notes”) issued by its oblique subsidiary Rackspace Know-how International, Inc., to (i) (A) change sure of these Current Secured Notes for brand new 3.50% FLSO Senior Secured Notes due 2028 (the “Alternate Notes”) issued by the New Issuer and (B) have bought for cancellation sure of these Current Secured Notes by the New Issuer for money (collectively, the “Alternate Supply”), and (ii) fund (the “Funding Supply” and, along with the Alternate Supply, the “Affords”) new senior secured first lien first out time period loans of the New Issuer, in every case, topic to the phrases and situations of the providing memorandum dated March 14, 2024 (as amended by the Firm’s press launch dated March 29, 2024, the “Providing Memorandum”). The Alternate Supply expired at 5:00 p.m., New York Metropolis time, on April 12, 2024 (the “Expiration Time”).
As of the Expiration Time, the New Issuer acquired from eligible holders legitimate and unwithdrawn tenders, as reported by Epiq Company Restructuring, LLC (the “Transaction Agent” or “Epiq”), the transaction agent, representing $138,427,000 in combination principal quantity of Current Secured Notes (or 75.9% of the Current Secured Notes excellent previous to the graduation of the Alternate Supply), which incorporates a further $5,156,000 in combination principal quantity of the Current Secured Notes validly tendered (and never validly withdrawn) since March 28, 2024. The New Issuer expects to settle the Alternate Supply with respect to such further Current Secured Notes on April 16, 2024.
About Rackspace Know-how
Rackspace Technology is a number one end-to-end hybrid, multicloud, and AI options firm. We design, construct, and function our clients’ cloud environments throughout all main know-how platforms, regardless of know-how stack or deployment mannequin. We companion with our clients at each stage of their cloud journey, enabling them to modernize functions, construct new merchandise, and undertake progressive applied sciences.
Ahead-Trying Statements
The Firm has made statements on this press launch which might be forward-looking and subsequently topic to dangers and uncertainties. All statements, apart from statements of historic truth, included on this press launch are, or may very well be, “forward-looking statements” inside the that means of the Personal Securities Litigation Reform Act of 1995 and are made in reliance on the protected harbor protections offered thereunder. These forward-looking statements embrace statements associated to the Affords and the Firm’s means to consummate the Affords inside the time interval anticipated, or in any respect. Any forward-looking assertion made on this press launch speaks solely as of the date on which it’s made. The Firm undertakes no obligation to publicly replace or revise any forward-looking assertion, whether or not because of new data, future developments or in any other case. Ahead-looking statements could be recognized by numerous phrases similar to “expects,” “intends,” “will,” “anticipates,” “believes,” “assured,” “proceed,” “suggest,” “seeks,” “may,” “might,” “ought to,” “estimates,” “forecasts,” “would possibly,” “targets,” “targets,” “targets,” “deliberate,” “tasks,” and comparable expressions. These forward-looking statements are primarily based on administration’s present beliefs and assumptions and on data at the moment out there to administration. The Firm cautions that these statements are topic to dangers and uncertainties, lots of that are outdoors of its management, and will trigger future occasions or outcomes to be materially totally different from these said or implied on this press launch, together with amongst others, danger elements which might be described within the Firm’s Annual Experiences on Type 10-Ok, Quarterly Experiences on Type 10-Q, Present Experiences on Type 8-Ok, and different filings with the SEC, together with the sections entitled “Danger Elements” and “Administration’s Dialogue and Evaluation of Monetary Situation and Outcomes of Operations” contained therein.
Media Contact
Natalie Silva
[email protected]
Investor Relations Contact
Sagar Hebbar
[email protected]
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