Apollo-backed Rackspace goes public: Bloomberg

Rackspace Technology Inc, which is backed by Apollo Global Management Inc, has raised $704 million for its IPO after pricing its 33.5 million shares at $21 per share, reported Bloomberg.

Rackspace Technology Inc, which is backed by Apollo Global Management Inc, has raised $704 million for its IPO after pricing its 33.5 million shares at $21 per share, reported Bloomberg. The stock began trading August 5, 2020 on the NASDAQ under the ticker symbol “RXT.” Goldman Sachs Group Inc., Citigroup Inc. and JPMorgan Chase are the lead underwriters. Rackspace is a cloud service provider.

Source: Bloomberg