Rackspace Technology, Inc. Initial Public Offering

Davis Polk advised the representatives of the several underwriters in connection with the $703.5 million initial public offering of 33,500,000 shares of common stock of Rackspace Technology, Inc. Rackspace Technology is listed on the Nasdaq Global Select Market under the symbol “RXT.”

Rackspace Technology is a leading end-to-end multicloud technology services company. Rackspace Technology designs, builds and operates its customers’ cloud environments across all major technology platforms, irrespective of technology stack or deployment model. Rackspace Technology partners with its customers at every stage of their cloud journey, enabling them to modernize applications, build new products and adopt innovative technologies. 

The Davis Polk corporate team included partners Michael Kaplan and Emily Roberts and associates Heita Miki and Paula Gergen. The intellectual property and technology transactions team included partner Frank J. Azzopardi and associates Christopher C. Woller and Daniel P. Kearney. The tax team included partner Mario J. Verdolini. Partner Adam Kaminsky provided employee benefits advice. Counsel Marcie A. Goldstein provided FINRA advice. Members of the Davis Polk team are based in the Northern California and New York offices.