Rackspace, a leading full-service hosting provider with 33,000 customers, priced its 15 million shares at $12.50 in a Dutch Auction on Thursday, 11% below the midpoint of the proposed $12-$16 range. The shares are expected to begin trading today on the NYSE under the ticker RAX. Goldman Sachs, Credit Suisse and Merrill Lynch were the lead underwriters on the deal.
