Rackspace Technology, Inc. disclosed a set of financing and liquidity actions alongside preliminary second-quarter 2026 results, including a new at-the-market stock offering program and an extension of its accounts receivable securitization facility. On July 9, 2026, Rackspace entered into an Equity Distribution Agreement with Goldman Sachs & Co. LLC to establish an at-the-market offering program. Under the agreement, Rackspace may sell, at its discretion, shares of its common stock, par value $0.01 per share, with an aggregate offering price of up to $250 million. Goldman Sachs will act as sales agent, or may purchase shares as principal under separately agreed terms. Any sales will be made under Rackspace’s shelf registration statement and related prospectus materials filed the same day. The ATM program does not require Rackspace to sell any shares, nor does it require Goldman Sachs to buy or sell shares. If Rackspace delivers a placement notice, Goldman Sachs may sell shares through methods deemed “at the market” offerings under Rule 415(a)(4), or by other legally permitted methods, subject to company instructions such as price, timing and size limits. Goldman Sachs will receive a commission equal to 1.5% of the gross proceeds from each sale. The agreement also includes customary indemnification and contribution provisions. Because no actual sale was reported, the filing does not disclose a share count, sale price or post-transaction ownership figure. Rackspace also reported that on July 2, 2026, its receivables financing structure was amended. Rackspace Receivables II LLC, Rackspace Receivables Canada Limited, certain Rackspace subsidiaries serving as originators and servicers, PNC Bank, National Association as administrative agent and purchaser, and PNC Capital Markets LLC as structuring agent entered into an Omnibus Amendment and Waiver to the company’s receivables purchase facility. The amendment extends the facility’s scheduled termination date from September 29, 2026 to July 2, 2029. It also revises early termination provisions to reference the earliest scheduled maturity of the revolving facilities under Rackspace’s first-lien credit agreement, or any refinancing or replacement revolving credit facility. The receivables facility amendment also permits the facility limit to increase by up to $50 million, from $300 million to a maximum of $350 million, subject to the terms and conditions of the receivables purchase agreement. Rackspace characterized the remaining changes as conforming, administrative and other amendments. The company incorporated this amendment under Item 2.03 as the creation or modification of a direct financial obligation or off-balance-sheet arrangement, reflecting the importance of the receivables facility to its financing structure. In the same filing, Rackspace furnished preliminary financial results for the quarter ended June 30, 2026. The company said it expects second-quarter revenue of $641 million to $649 million, including Private Cloud revenue of $242 million to $246 million and Public Cloud revenue of $399 million to $403 million. Rackspace expects a GAAP net loss of $62 million to $91 million, or a GAAP net loss per diluted share of $0.25 to $0.36. GAAP loss from operations is expected to range from $33 million to $53 million. On a non-GAAP basis, Rackspace expects operating profit of $19 million to $23 million, non-GAAP loss per share of $0.08 to $0.11, and adjusted EBITDA of $58 million to $62 million. Its reconciliation indicates an estimated non-GAAP net loss of $21 million to $29 million. Adjustments identified by the company include share-based compensation, transaction-related costs, restructuring and transformation expenses, divestiture and investment gains or losses, a $6 million to $7 million gain on debt extinguishment, and a $17 million to $19 million interest expense impact tied to accounting for the March 2024 refinancing transactions. Rackspace cautioned that the second-quarter figures are preliminary and subject to completion of closing procedures, quarter-end review and other developments before final results are issued. The company also noted that KPMG LLP had not audited, reviewed, examined, compiled or applied agreed-upon procedures to the preliminary results and therefore expressed no assurance on them. Overall, the filing reports two significant capital-structure moves: potential equity issuance of up to $250 million through an ATM program and a three-year extension of a receivables purchase facility with possible capacity expansion to $350 million. These actions come as Rackspace reported continued GAAP losses for the second quarter but positive expected non-GAAP operating profit and adjusted EBITDA.