secwatch.observer — SEC 8-K summary
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Issuer:     Rackspace Technology, Inc. (RXT)
CIK:        0001810019
Form:       8-K
Filed at:   2023-10-04T23:59:59+00:00
Accession:  0001810019-23-000151
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Rackspace enters $300M A/R facility, draws $209M; appoints Thomas Cole to board
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1810019/000181001923000151/0001810019-23-000151-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1810019/000181001923000151/rxt-20230929.htm
  HTML page:      https://secwatch.observer/filing/0001810019-23-000151

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer