{"schema_version":"secwatch.filing_event.v1","accession":"0001810019-23-000151","form_type":"8-K","ticker":"RXT","cik":"0001810019","company_name":"Rackspace Technology, Inc.","filed_at":"2023-10-04T23:59:59+00:00","discovered_at":"2026-05-14T18:03:30.577287+00:00","generated_at":"2026-06-10T04:55:52.319553+00:00","sec_items":["1.01","2.03","5.02","7.01","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"confidence":"high","headline":"Rackspace enters $300M A/R facility, draws $209M; appoints Thomas Cole to board","bullets":["Entered $300M receivables purchase facility with PNC; drew $209M on Sept 29, 2023.","Proceeds used to repay $50M revolver balance and for general corporate/strategic initiatives.","Appointed Thomas Cole to Board of Directors, effective Oct 2, 2023, as Class III director.","Cole has 37+ years Wall Street experience, most recently co-head of leveraged finance at Citibank.","A/R facility terminates Sept 29, 2026, unless earlier terminated per terms."],"urls":{"canonical":"https://secwatch.observer/filing/0001810019-23-000151","json":"https://secwatch.observer/filing/0001810019-23-000151.json","markdown":"https://secwatch.observer/filing/0001810019-23-000151.md","text":"https://secwatch.observer/filing/0001810019-23-000151.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1810019/000181001923000151/0001810019-23-000151-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1810019/000181001923000151/rxt-20230929.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-10T04:55:52.319553+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"04aeafcb8dc1004091ab87184c4f207a4d082204","claim":"Rackspace Technology, Inc. entered an off-balance-sheet arrangement for debt of $300 million aggregate purchase limit with PNC Bank, National Association.","evidence_excerpt":"may continue to sell and transfer, such receivables to Purchaser and to other purchasers under the RPA (the \"A/R Facility\"). The A/R Facility has an aggregate purchase limit of $300 million and advances are permitted to the extent that the face amount of eligible receivables in the collateral pool exceeds the outstanding advances by a specified amount. On the","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1810019/000181001923000151/0001810019-23-000151-index.htm","confidence":0.7,"family_label":"Debt Financings","details":[{"label":"Principal","value":"$300 million aggregate purchase limit"},{"label":"Counterparty","value":"PNC Bank, National Association"},{"label":"Event","value":"off balance sheet"}],"fact_type":"debt_financing"},{"claim_id":"2a374756a3ac94c7d376061489b37559bf1ccb8d","claim":"Rackspace Technology, Inc. incurred debt of $300 million aggregate purchase limit with PNC Bank, National Association at at the rate specified in the RPA maturing September 29, 2026.","evidence_excerpt":"may continue to sell and transfer, such receivables to Purchaser and to other purchasers under the RPA (the \"A/R Facility\"). The A/R Facility has an aggregate purchase limit of $300 million and advances are permitted to the extent that the face amount of eligible receivables in the collateral pool exceeds the outstanding advances by a specified amount. On the","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1810019/000181001923000151/0001810019-23-000151-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Principal","value":"$300 million aggregate purchase limit"},{"label":"Counterparty","value":"PNC Bank, National Association"},{"label":"Rate","value":"at the rate specified in the RPA"},{"label":"Maturity","value":"September 29, 2026"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"3eb5248fde7279ab5450ca96db63ba613367a7f6","claim":"Rackspace Technology, Inc. incurred revolving credit of $209.0 million.","evidence_excerpt":"On the Closing Date, the Company drew $209.0 million under the A/R Facility and intends to use the proceeds for general corporate purposes, including investing into ongoing business needs and strategic initiatives, and to pre-pay the principal balance of $50.0 million outstanding under the Company's revolving credit facility.","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1810019/000181001923000151/0001810019-23-000151-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"revolving credit"},{"label":"Principal","value":"$209.0 million"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"8470d726dd","claim":"Thomas Cole was appointed as Director at Rackspace Technology, Inc..","evidence_excerpt":"Effective October 2, 2023, the board of directors (the \"Board\") of the Company, with the recommendation of the Nominating and Corporate Governance Committee, appointed Mr. Thomas Cole as a member of the Board.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1810019/000181001923000151/0001810019-23-000151-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"appointed"},{"label":"Role","value":"Director"}],"fact_type":"executive_change"},{"claim_id":"edc62d3fcf88ef220ecc83cb48e135eb12c8ffe1","claim":"Rackspace Technology, Inc. entered into RPA with PNC Bank, National Association valued at $300 million (effective 2023-09-29).","evidence_excerpt":"(the \"Company\"), entered into a receivables purchase agreement (the \"RPA\") with PNC Bank, National Association, as administrative agent and as purchaser (the \"Purchaser\") and the other parties thereto.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1810019/000181001923000151/0001810019-23-000151-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"PNC Bank, National Association"},{"label":"Value","value":"$300 million"},{"label":"Effective","value":"2023-09-29"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}