Voss Capital announced that it has established a small position in Rackspace Technology (Nasdaq: RXT), a hybrid cloud and AI solutions company. The fund believes RXT is a classic highly-leveraged "stub equity" turnaround opportunity, with an equity market capitalization of approximately $900 million, an enterprise value of approximately $3.8 billion, and net debt of approximately $2.7 billion. RXT possesses significant underutilized data center capacity and has previously generated over $800 million in annualized EBITDA, which is projected to fall below $300 million in 2026. As of August 27, RXT closed at $3.38, with its stock price up 168.25% over the past 52 weeks.