---
schema_version: "secwatch.filing_event.v1"
accession: "0001810019-24-000064"
form_type: "8-K"
ticker: "RXT"
cik: "0001810019"
company_name: "Rackspace Technology, Inc."
filed_at: "2024-04-02T23:59:59+00:00"
generated_at: "2026-06-04T03:44:00.221115+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Rackspace closes early exchange of $133.3M notes; over 90% of existing secured notes now exchanged

## Summary
- Private exchange ($331.4M) and public early settlement ($133.3M) result in over 90% of $513.7M existing 3.50% notes exchanged or cancelled.
- New secured notes issued: $267.3M (private) and $93.3M (public) due 2028 under new subsidiary Rackspace Finance, LLC.
- Company reaffirms Q1 2024 guidance previously issued March 12, 2024, with no change.
- Exchange reduces outstanding existing secured notes from $513.7M to less than ~10% remaining.

## SEC filing metadata
- accession: 0001810019-24-000064
- form_type: 8-K
- ticker: RXT
- cik: 0001810019
- company_name: Rackspace Technology, Inc.
- filed_at: 2024-04-02T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 2.03
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1810019/000181001924000064/0001810019-24-000064-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1810019/000181001924000064/rxt-20240402.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001810019-24-000064
- JSON: https://secwatch.observer/filing/0001810019-24-000064.json
- Plain text: https://secwatch.observer/filing/0001810019-24-000064.txt

## Key facts
- Debt Financings
  Rackspace Technology, Inc. incurred senior notes of approximately $93.3 million aggregate principal amount of New Secured Notes with holders of Existing Secured Notes maturing due 2028.
  - Instrument: senior notes
  - Principal: approximately $93.3 million aggregate principal amount of New Secured Notes
  - Counterparty: holders of Existing Secured Notes
  - Maturity: due 2028
  - Event: incurrence
  source text: On April 2, 2024, the Company closed the early settlement of the Public Notes Exchange, pursuant to which (i) approximately $133.3 million aggregate principal amount of Existing Secured Notes were exchanged or purchased for cancellation and (ii) approximately $93.3 million aggregate principal amount of New Secured Notes were issued by the New Borrower under the New Secured Notes Indenture.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1810019/000181001924000064/0001810019-24-000064-index.htm
- Earnings Releases
  Rackspace Technology, Inc. updated its the fiscal quarter and year ended December 31, 2023 guidance (reaffirmed).
  - Period: the fiscal quarter and year ended December 31, 2023
  - Guidance: reaffirmed
  - Result: reported results
  source text: On April 2, 2024, the Company reaffirmed the financial guidance provided by the Company in the previous press release dated March 12, 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1810019/000181001924000064/0001810019-24-000064-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.