secwatch.observer — SEC 8-K summary
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Issuer:     Rackspace Technology, Inc. (RXT)
CIK:        0001810019
Form:       8-K
Filed at:   2024-04-02T23:59:59+00:00
Accession:  0001810019-24-000064
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 2.03
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1810019/000181001924000064/0001810019-24-000064-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1810019/000181001924000064/rxt-20240402.htm
  HTML page:      https://secwatch.observer/filing/0001810019-24-000064

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