Tech's Cash Crunch Sees Creditors Turn 'Violent' With One Another [Financial Post (Toronto, Ontario, Canada)]
Rackspace Technology, Inc. (RXT)
Company Research
Source: Financial Post
Now, creditors in the space are turning against one another in a bid to get repaid. Author of the article: You can save this article by registering for free here . Or sign-in if you have an account. (Bloomberg) — The relentless rise of the Magnificent Seven makes it easy to forget that many tech firms are unprofitable and struggling with their debt burdens. Now, creditors in the space are turning against one another in a bid to get repaid. Alvaria Inc., GoTo Group Inc. and Rackspace Technology Inc. are among a spate of troubled tech companies to agree to restructuring deals this year that provide select lenders with better terms on debt swaps than others, a process sometimes deemed a form of ‘creditor-on-creditor violence.' Article content Article content It's part of a wider trend of heavily-indebted corporates looking to manage their liabilities by taking advantage of relatively loose agreements with debt investors — known as covenants — that can allow them to move ass
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News
- Rackspace Technology to Announce First Quarter 2024 Earnings May 9, 2024GlobeNewswire
- Why Rackspace Technology, Inc. (NASDAQ:RXT) Could Be Worth Watching [Yahoo! Finance]Yahoo! Finance
- Foundry for AI by Rackspace (FAIR) Partners with OhioX to Drive Responsible AI Adoption in Ohio [Yahoo! Finance]Yahoo! Finance
- Foundry for AI by Rackspace (FAIR) Partners with OhioX to Drive Responsible AI Adoption in OhioGlobeNewswire
- Tech's Cash Crunch Sees Creditors Turn ‘Violent' With One Another [BNN Bloomberg (Canada)]BNN Bloomberg
RXT
Earnings
- 3/12/24 - Beat
RXT
Sec Filings
- 4/29/24 - Form ARS
- 4/29/24 - Form DEFA14A
- 4/29/24 - Form DEF
- RXT's page on the SEC website