05:44 AM EDT, 03/15/2024 (MT Newswires) -- Rackspace Technology ( RXT ) said Thursday it is offering eligible holders of its 3.50% first-priority senior secured notes due 2028 to exchange the notes for new 3.50% FLSO senior secured notes due 2028 or partially exchange them for cash.

Eligible holders who tender all of their existing secured notes at or before March 28 at 5 pm New York time and have their existing secured notes accepted will receive an early exchange consideration, which will expire on April 11.

Eligible holders who tender all of their existing secured notes after the early participation time but at or before the expiration time will receive a late exchange consideration package.

Shares of the cloud computing technology company were up nearly 3% in recent Friday premarket activity.

Price: 1.69, Change: +0.05, Percent Change: +2.99