Rackspace TechnologyTM (NASDAQ: RXT) officially reported the early tender results for its previously announced tender offer to buy all of its remaining 8.6 percent Senior Notes due 2024 for cash. The Tender Offer shall be subject to the terms and conditions laid down in the Purchase Offer, dated 16 November 2020, relating thereto.
The Firm was informed by Global Bondholder Services Corporation, as the Depositary for the Tender Offer, as of the previously announced early tender deadline of 5:00 p.m., New York City time, on Monday, November 30, 2020, that $259,147,000 in the gross principal sum, or around 49.91 percent, of the outstanding Notes had been validly tendered and not withdrawn in the Tender Offer. The withdrawal date for the Tender Offer occurred on Monday, November 30, 2020, at 5:00 p.m., New York City time. Notes previously tendered and not withdrawn and notes sent beyond the time period for withdrawal will not be withdrawn, except as required by statute. The Tender Offer is set to expire on Monday, December 14, 2020 at 12:00 midnight, New York City time, unless renewed or terminated sooner.
The Corporation accepts for purchase all validly tendered and not validly withdrawn Notes prior to the Early Tender Time, according to the terms and conditions of the Tender Offer, with the payment date for such purchase scheduled to occur on or around December 1, 2020.