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Rackspace preps IPO after going private in 2016 for $4.3B

  • TechCrunch
  • this week
  • After going private in 2016 after accepting a $32 per share, or $4.3 billion, price from Apollo Global Management, Rackspace is looking once again to the public markets.
  • The company’s S-1 filing denotes a $100 million placeholder figure for how much the company may raise in its public offering. That figure will change, but does tell us that firm is likely to target a share sale that will net it closer to $100 million than $500 million, another popular placeholder figure.
  • Rackspace intends to use IPO proceeds to lower its debt-load, including both its term loan and senior notes. Precisely how much Rackspace can put against its debts will depend on its IPO pricing.
Rackspace preps IPO after going private in 2016 for $4.3B
Founder and former CEO of both Rackspace Hosting and ServerBeach.
Founded @Rackspace Building modern SaaS in Real Estate Operations

Pat Condon

Avatar for Pat Condon
Co-Founder, @Rackspace
Total raised

$11.5M

Funded over

1 round

Latest round

Mar 2000