Rackspace Completes $700 Million Initial Public Offering

Paul, Weiss advised Rackspace Technology, Inc., a leading end-to-end multicloud technology services company, in its initial public offering, raising gross proceeds of approximately $700 million. Goldman Sachs & Co. LLC, Citigroup Global Markets Inc. and J.P. Morgan Securities LLC served as joint lead bookrunning managers and as representatives of the underwriters for the offering.

The Paul, Weiss team included, among others, securities partners Gregory Ezring and Brian Janson; employee benefits partner Jean McLoughlin; intellectual property partner Charles Googe; and tax partner Brad Okun.