SCHEDULE 13G/A: ABRY Partners and Affiliates Maintain Significant Stake in Rackspace Technology, Inc. with Updated 13G/A Filing
Beneficial Ownership Amendment
An amended Schedule 13G filing reveals that ABRY Partners and its affiliated entities, including key individuals, continue to collectively hold a 9.05% beneficial ownership stake in Rackspace Technology, Inc. as of December 31, 2024.
Summary
- The filing is an Amendment No. 1 to Schedule 13G, updating beneficial ownership information for Rackspace Technology, Inc. (CUSIP: 750102105).
- The reporting persons include ABRY Partners, LLC, ABRY Partners II, LLC, ACE Investment Holdings, LLC, Royce Yudkoff, Peggy Koenig, and Jay Grossman.
- ABRY Partners, LLC, ABRY Partners II, LLC, Royce Yudkoff, Peggy Koenig, and Jay Grossman are identified as a group, collectively beneficially owning 20,595,180 shares of Common Stock.
- This collective ownership represents 9.05% of the outstanding shares of Rackspace Technology, Inc. Common Stock.
- ACE Investment Holdings, LLC directly holds 9,792,000 shares, representing 4.30% of the outstanding shares.
- The beneficial ownership percentages are based on 227,568,885 shares of Common Stock outstanding as of November 5, 2024, as reported in the company's Form 10-Q filed on November 12, 2024.
- The filing confirms a joint filing agreement among the reporting persons and includes powers of attorney for filing purposes.
Sentiment
Score: 5
Explanation: The document is a factual disclosure of beneficial ownership and does not contain information that would inherently lead to a positive or negative sentiment regarding the company's operational or financial performance.
Positives
- The continued significant beneficial ownership by ABRY Partners and its affiliates may signal ongoing confidence in Rackspace Technology, Inc.'s long-term prospects from a major institutional investor.
Future Outlook
NA
Industry Context
This filing is a routine disclosure of beneficial ownership by a significant institutional investor group in a publicly traded technology company. It provides transparency regarding the ownership structure but does not offer insights into broader industry trends or competitive positioning.
Stakeholder Impact
- Shareholders: Provides transparency regarding significant institutional ownership, which can influence market perception and liquidity.
Key Dates
| Date | Description |
|---|---|
| 2024-11-05 | Date as of which 227,568,885 shares of Common Stock were outstanding, as reported in the company's Form 10-Q. |
| 2024-12-31 | Date of event which requires the filing of this statement (beneficial ownership snapshot date). |
| 2025-02-14 | Date of the Joint Filing Agreement and Power of Attorney, and the filing date of the Schedule 13G/A. |
Keywords
Rackspace Technology, ABRY Partners, Beneficial Ownership, Schedule 13G/A, Institutional Ownership, Common Stock, SEC Filing, Investment Holdings
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