Rackspace Technology announced two financing actions to bolster liquidity and flexibility. The company launched a $250 million at-the-market equity program with Goldman Sachs as sales agent, earning a 1.5% commission on gross proceeds. Separately, Rackspace extended its accounts receivable securitization facility to July 2, 2029, and secured the ability to increase the facility limit by up to $50 million to a maximum of $350 million. PNC Bank continues as administrative agent and purchaser, with PNC Capital Markets as structuring agent.
Agreement 1: Rackspace Technology Launches $250 Million ATM Equity Program With Goldman Sachs
- Agreement type: Equity Distribution Agreement for at-the-market offering
- Counterparty: Goldman Sachs
- Signed / Effective: Jul 09 2026 / same
- Duration / Termination: At will
- Reason: Flexible equity financing for liquidity and growth
Agreement 2: Rackspace Technology Extends Receivables Securitization to 2029; Facility May Increase to $350 Million
- Agreement type: Omnibus Amendment and Waiver to Receivables Purchase Agreement (securitization facility)
- Counterparty: PNC Bank and PNC Capital Markets
- Signed / Effective: Jul 02 2026 / same
- Duration / Termination: Through Jul 02 2029
- Reason: Extend tenor and expand capacity for working capital
Original SEC Filing:
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