“Rackspace.com Inc., a provider of Internet hosting services
based on the Linux operating system, said on Thursday it would sell
3.8 million shares for $12-$14 a share in its initial public
offering. “
“The company said it would net an estimated $45.2 million
based on those terms and would use the funds for capital spending
and to establish a data centre presence in London and
Asia.”
“Rackspace.com said it would also use the IPO proceeds to expand
sales and marketing as well as product development activities,
working capital and other general corporate purposes.”