It has recently registered with the SEC or Securities and Exchange Commission of USA, to get the approval for the IPO.
What is the size of RackSpace IPO?
RackSpace IPO has not directly did disclosed the expected size or price range of the planned IPO, but indicated the offering price may total up to $400 million, as per the filing with the SEC. Though these prices are indicative and may change at a later stage.
What are the financial results and business valuations of Rackspace IPO?
As per the news from Chron, In 2007, Rackspace reported a profit of $17.8 million on revenue of $362 million. At the end of the year, the company said it served over 29,000 business customers.
Where will the capital raised and IPO proceeds of Rackspace IPO be used?
Primarily for growth and business expansion. Rackspace plans to use proceeds from the IPO to finance its growth plans, as well as for working capital and general corporate purposes. The company also may repay debt or make acquisitions.
Who are the underwriters for Rackspace IPO?
Goldman Sachs, Credit Suisse Securities and Merrill Lynch are serving as the IPO's lead underwriters. W.R. Hambrecht and E-Trade Securities are also underwriting the offering.
The company plans to use an auction process to determine the initial public offering price. Rackspace also said that certain stockholders will offer some of the shares in the IPO.
Rackspace plans to list its shares on the New York Stock Exchange under the symbol "RAX." Let’s see how this IPO performs in the markets once it opens up for subscription. | Table of Contents |
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