SAN ANTONIO, April 12, 2024 (GLOBE NEWSWIRE) — Rackspace Technology® (NASDAQ: RXT) (“Rackspace” or the “Company”), a number one end-to-end hybrid, multicloud, and AI know-how options firm, at the moment introduced the ultimate outcomes of the beforehand introduced supply by its oblique subsidiary Rackspace Finance, LLC (the “New Issuer”), to eligible holders in respect of any and all the 3.50% First-Priority Senior Secured Notes due 2028 (the “Existing Secured Notes”) issued by its oblique subsidiary Rackspace Technology Global, Inc., to (i) (A) trade sure of these Existing Secured Notes for brand new 3.50% FLSO Senior Secured Notes due 2028 (the “Exchange Notes”) issued by the New Issuer and (B) have bought for cancellation sure of these Existing Secured Notes by the New Issuer for money (collectively, the “Exchange Offer”), and (ii) fund (the “Funding Offer” and, along with the Exchange Offer, the “Offers”) 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 Company’s press launch 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 Time”).

As of the Expiration Time, the New Issuer acquired from eligible holders legitimate and unwithdrawn tenders, as reported by Epiq Corporate Restructuring, LLC (the “Transaction Agent” or “Epiq”), the transaction agent, representing $138,427,000 in mixture principal quantity of Existing Secured Notes (or 75.9% of the Existing Secured Notes excellent previous to the graduation of the Exchange Offer), which incorporates an extra $5,156,000 in mixture principal quantity of the Existing Secured Notes validly tendered (and never validly withdrawn) since March 28, 2024. The New Issuer expects to settle the Exchange Offer with respect to such extra Existing Secured Notes on April 16, 2024.

About Rackspace Technology

Rackspace Technology is a number one end-to-end hybrid, multicloud, and AI options firm. We design, construct, and function our prospects’ cloud environments throughout all main know-how platforms, regardless of know-how stack or deployment mannequin. We accomplice with our prospects at each stage of their cloud journey, enabling them to modernize functions, construct new merchandise, and undertake progressive applied sciences.

Forward-Looking Statements

The Company 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 reality, included on this press launch are, or might be, “forward-looking statements” inside the that means of the Private 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 Offers and the Company’s potential to consummate the Offers 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 Company undertakes no obligation to publicly replace or revise any forward-looking assertion, whether or not on account of new data, future developments or in any other case. Forward-looking statements could be recognized by numerous phrases resembling “expects,” “intends,” “will,” “anticipates,” “believes,” “confident,” “continue,” “propose,” “seeks,” “could,” “may,” “should,” “estimates,” “forecasts,” “might,” “goals,” “objectives,” “targets,” “planned,” “projects,” and comparable expressions. These forward-looking statements are primarily based on administration’s present beliefs and assumptions and on data at present out there to administration. The Company 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 completely different from these said or implied on this press launch, together with amongst others, danger components which might be described within the Company’s Annual Reports on Form 10-Okay, Quarterly Reports on Form 10-Q, Current Reports on Form 8-Okay, and different filings with the SEC, together with the sections entitled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” contained therein.

Media Contact

Natalie Silva
publicrelations@rackspace.com

Investor Relations Contact

Sagar Hebbar
ir@rackspace.com