Rackspace reveals retirement plan behind decision to go public by selling 17% of itself

Rackspace Technology has revealed the terms of its planned return to the stock market. The company will sell 33.5 million shares and expects punters to pay between $21 and $24. A further 5.025 million shares will later be offered to underwriters at the IPO price, with the whole exercise yielding gross proceeds of approximately …

[Anonymous Coward]

Sell shares to the mugs

To pay back the original "investors", I love the smell of capitalism in the morning, even when it smells of bovines.

[fredesmite2]

I interviewed at RS years ago.

It is located in a crime + gang ridden section of San Antonio .. in an abandoned shopping mall enclosed by razor wire fencing. It was like entering a prison. The turn over rate I was told is a big problem. SA is not a high-tech zone except for few military bases that only hire "IT contractors" .

A real dead-end place for a career . I didn't like the interview process and I had no interest in getting a job there afterwards.