Rackspace reports 73.1% of existing secured notes tendered in exchange offer

Rackspace Technology, Inc.

$133.3M (73.1%) of 3.50% Senior Secured Notes due 2028 tendered by March 28 early deadline.
Early exchange consideration: $700 of new Exchange Notes plus $0.7875 cash per $1,000 principal.
Early settlement expected April 2, 2024; offer expires April 11, 2024.
Participating holders may also purchase new FLFO term loans at 1% original issue discount.
Offer limited to qualified institutional buyers and non-U.S. persons; notes unregistered.

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