NextNav Set to Join Russell 2000® Index
June 09 2022 - 11:15AM
NextNav, a leader in next generation GPS, announced today that it
is has been selected to be included in the Russell 2000® Index at
the conclusion of the 2022 Russell indexes annual reconstitution,
effective after the US market opens on June 24, 2022.
“We are pleased to be included in the Russell 2000® index, a key
milestone for our business since becoming a publicly traded company
late last year,” said Christian Gates, NextNav Chief financial
Officer. “Our inclusion in the index will not only help to broaden
our visibility with the investment community but demonstrates our
continued commitment to creating value for our shareholders as we
build on the strong momentum we see in the adoption of our next
generation GPS technologies.”
Annual Russell indexes reconstitution captures the 4,000 largest
US stocks as of May 6, ranking them by total market capitalization.
Membership in the US all-cap Russell 3000® Index, which remains in
place for one year, means automatic inclusion in the large-cap
Russell 1000® Index or small-cap Russell 2000® Index as well as the
appropriate growth and value style indexes. FTSE Russell determines
membership for its Russell indexes primarily by objective,
market-capitalization rankings and style attributes.
Russell indexes are widely used by investment managers and
institutional investors for index funds and as benchmarks for
active investment strategies. Approximately $12 trillion in assets
are benchmarked against Russell’s US indexes. Russell indexes are
part of FTSE Russell, a leading global index provider.
For more information on the Russell 2000® Index and the Russell
indexes reconstitution, go to the “Russell Reconstitution” section
on the FTSE Russell website.
About NextNav
NextNav Inc. (Nasdaq: NN) is a leader in next generation GPS,
enabling a whole new ecosystem of applications and services that
rely upon vertical location and resilient geolocation technology.
The company’s Pinnacle network delivers highly accurate vertical
positioning to transform location services, reflecting the 3D world
around us and supporting innovative, new capabilities. NextNav’s
TerraPoiNT network delivers accurate, reliable, and resilient 3D
positioning, navigation and timing (PNT) services to support
critical infrastructure and other GPS-reliant systems in the
absence or failure of GPS.
For more information, please visit https://nextnav.com/ or
follow NextNav on Twitter or LinkedIn.
About FTSE Russell
FTSE Russell is a global index leader that provides innovative
benchmarking, analytics and data solutions for investors worldwide.
FTSE Russell calculates thousands of indexes that measure and
benchmark markets and asset classes in more than 70 countries,
covering 98% of the investable market globally.
FTSE Russell index expertise and products are used extensively
by institutional and retail investors globally. Approximately $20
trillion is currently benchmarked to FTSE Russell indexes. For over
30 years, leading asset owners, asset managers, ETF providers and
investment banks have chosen FTSE Russell indexes to benchmark
their investment performance and create ETFs, structured products
and index-based derivatives.
A core set of universal principles guides FTSE Russell index
design and management: a transparent rules-based methodology is
informed by independent committees of leading market participants.
FTSE Russell is focused on applying the highest industry standards
in index design and governance and embraces the IOSCO Principles.
FTSE Russell is also focused on index innovation and customer
partnerships as it seeks to enhance the breadth, depth and reach of
its offering.
FTSE Russell is wholly owned by London Stock Exchange Group.
For more information, visit www.ftserussell.com.
Contact
Erica Bartsch / Neal NagarajanSloane &
Companyebartsch@sloanepr.com; nnagarajan@sloanepr.com
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