IronNet Added to Membership of Russell 2000Ⓡ and 3000Ⓡ Indexes

Rhea-AI Summary

IronNet (NYSE: IRNT) has been added to the Russell 2000 and Russell 3000 Indexes as of June 27, highlighting its growing market presence. This inclusion is expected to enhance visibility among investors and potentially increase the stock's liquidity. General (Ret.) Keith Alexander emphasized the company's focus on key sectors such as energy, healthcare, space, government, and finance, while aiming for operational efficiency and cash flow neutrality. Approximately $12 trillion in assets benchmark against these Russell indexes.

Positive

• Inclusion in the Russell 2000 and 3000 Indexes enhances visibility and potential investor interest.
• Focus on key sectors including energy, healthcare, and finance indicates strategic growth opportunities.
• Plans for operational efficiency aim to achieve cash flow neutrality.

Negative

• None.

MCLEAN, Va.--(BUSINESS WIRE)-- IronNet, Inc. (NYSE: IRNT), an innovative leader Transforming Cybersecurity Through Collective Defense^SM, today announced it joined the small-cap Russell 2000® and the broad-market Russell 3000® Indexes on June 27 as part of the 2022 Russell indexes annual reconstitution. In addition to joining both the Russell 2000 and the Russell 3000 Indexes, the stock also was automatically added into the portfolios of numerous growth and value investment funds.

“We are proud of IronNet’s inclusion in the Russell 2000 and 3000 Indexes, which we believe highlight the growing focus by investors on the power of our Collective Defense platform,” said General (Ret.) Keith Alexander, chairman and co-CEO of IronNet. “This milestone for our company, within the year of our business combination and entry into the public markets, is a recognition of our market opportunity and our momentum in key sectors, including energy, healthcare, space, government, and finance. Looking ahead, we aim to support our continued growth by further targeting these industries and by leveraging technology and go-to-market partnerships. We have also highlighted initiatives underway to streamline our operations for higher efficiency in order to accelerate our timeline to become cash flow neutral and to set IronNet up for rationalized growth.”

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 U.S. indexes. Russell indexes are part of FTSE Russell, a leading global index provider.

About IronNet, Inc.

Founded in 2014 by GEN (Ret.) Keith Alexander, IronNet, Inc. (NYSE: IRNT) is a global cybersecurity leader that is transforming how organizations secure their networks by delivering the first-ever Collective Defense platform operating at scale. Employing a number of former NSA cybersecurity operators with offensive and defensive cyber experience, IronNet integrates deep tradecraft knowledge into its industry-leading products to solve the most challenging cyber problems facing the world today. Learn more at www.ironnet.com.

Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including, without limitation, statements regarding IronNet’s ability to transform cybersecurity, execute on its business strategy and increase market share, the expansion of the cybersecurity market and demand for IronNet’s products and services, and IronNet’s strategy to streamline its operations for higher efficiency and its plans to become cash flow neutral. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “aim,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside IronNet’s management’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include: IronNet’s ability to execute on its plans to develop and market new products and the timing of these development programs; IronNet’s estimates of the size of the markets for its products; the rate and degree of market acceptance of IronNet’s products; IronNet’s ability to secure new contracts and renewals from public sector customers; the success of other competing technologies that may become available; IronNet’s ability to identify and integrate acquisitions; the performance of IronNet’s products; potential litigation; and general economic and market conditions impacting demand for IronNet’s products. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described under the heading “Risk Factors” in IronNet’s Annual Report on Form 10-K for the year ended January 31, 2022, filed with the SEC on May 2, 2022, as updated by IronNet’s Quarterly Report on Form 10-Q for the quarter ended April 30, 2022, filed with the SEC on June 14, 2022, and subsequent filings with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward looking statements, and IronNet does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

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 on the Russell 2000® and Russell 3000® Indexes and the Russell indexes reconstitution, go to the "Russell Reconstitution" section on the FTSE Russell website.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220630005323/en/

IronNet:

Investor: Nancy Fazioli - IR@ironnet.com

Media: Bridget Bell - Media@ironnet.com

Source: IronNet, Inc.

FAQ

When did IronNet join the Russell 2000 and 3000 Indexes?

IronNet joined the Russell 2000 and 3000 Indexes on June 27.

What does IronNet's inclusion in the Russell indexes mean for investors?

It may enhance visibility and increase liquidity for IronNet's stock among investors.

Who is the chairman of IronNet?

General (Ret.) Keith Alexander is the chairman and co-CEO of IronNet.

What sectors is IronNet focusing on for growth?

IronNet is focusing on energy, healthcare, space, government, and finance sectors.

How much in assets is benchmarked against Russell's indexes?

Approximately $12 trillion in assets are benchmarked against Russell's U.S. indexes.