eMagin Corporation to Join Russell Microcap Index

Rhea-AI Summary

eMagin Corporation (NYSE American:EMAN) announced its inclusion in the Russell Microcap Index effective June 25, 2021, highlighting significant growth over the past year. CEO Andrew Sculley emphasized plans for expansion, including a 25% increase in manufacturing space, new equipment funded by the U.S. Department of Defense, and a boost in engineering personnel. The company continues to invest in R&D to enhance its technical capabilities in the evolving AR/VR market.

Positive

• Inclusion in the Russell Microcap Index, reflecting substantial growth.
• Plans to expand manufacturing footprint by over 25%.
• Increased engineering headcount to support growth initiatives.
• Continued investments in R&D to enhance technical capabilities.

Negative

• None.

HOPEWELL JUNCTION, NY / ACCESSWIRE / June 15, 2021 / eMagin Corporation (NYSE American:EMAN), a leader in the development, design and manufacture of Active Matrix OLED microdisplays used in military and commercial AR/VR devices, and other near-eye imaging products, today announced that it will be added to the Russell Microcap Index at the conclusion of the index's annual reconstitution, effective after the market close on Friday, June 25, 2021. FTSE Russell determines membership for its indexes on an annual basis by objective, market-capitalization rankings and related criteria.

"eMagin's inclusion in the Russell index reflects the considerable growth we've achieved in the past year," said Andrew Sculley, CEO of eMagin Corporation. "As we look to build on that success, we are moving forward with a number of initiatives, including the expansion of our manufacturing footprint by more than 25% as we make room for new equipment funded by the U.S. Department of Defense. At the same time, we are increasing our engineering headcount and continuing our investments in R&D as we enhance our technical capabilities and build for the future."

Additional information on the Russell Microcap Index and the annual reconstitution process is available on the FTSE Russell website: https://www.ftserussell.com/resources/russell-reconstitution

About eMagin Corporation

eMagin is the leader in OLED microdisplay technology for the next generation of computing and imaging devices, serving world-class customers in the military, consumer, medical and industrial markets. The Company invents, engineers and manufactures display technologies of the future in the United States, including its proprietary Direct Patterning Technology (dPd™), which is designed to transform the way the world consumes information. Since 2001, eMagin's microdisplays have been used in AR/VR, aircraft helmets, heads-up display systems, thermal scopes, night vision goggles, future weapon systems and a variety of other applications. For more information, please visit www.emagin.com.

Important Cautionary Information Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including those regarding eMagin Corporation's expectations, intentions, strategies and beliefs pertaining to future events or future financial performance. Actual events or results may differ materially from those in the forward-looking statements as a result of various important factors, including those described in the Company's most recent filings with the SEC. For a more complete description of the risk factors that could cause our actual results to differ from our current expectations, including impacts of the COVID-19 pandemic, please see the section entitled "Risk Factors" in eMagin's Annual Report on Form 10-K for the fiscal year ended December 31, 2020, and in any Form 10-Q filed or to be filed by eMagin, and in other documents we file with the SEC from time to time.

CONTACT

eMagin Corporation
Mark A. Koch
Acting Chief Financial Officer
845-838-7951
mkoch@emagin.com

Sharon Merrill Associates, Inc.
Nicholas Manganaro
eman@investorrelations.com
617-542-5300

SOURCE: eMagin Corporation

View source version on accesswire.com:
https://www.accesswire.com/651680/eMagin-Corporation-to-Join-Russell-Microcap-Index

FAQ

When will eMagin be added to the Russell Microcap Index?

eMagin will be added to the Russell Microcap Index effective after the market close on June 25, 2021.

What are eMagin's future plans after joining the Russell Microcap Index?

eMagin plans to expand its manufacturing footprint, increase engineering staff, and continue investing in R&D to enhance its technical capabilities.

What is the significance of eMagin's inclusion in the Russell Microcap Index?

The inclusion reflects eMagin's considerable growth over the past year and enhances its visibility among investors.

What funding is eMagin receiving for its expansion?

eMagin is receiving funding from the U.S. Department of Defense for new equipment in its expanded manufacturing area.