iSun, Inc. Set to Join Russell Microcap® Index After Its Successful deSPAC
iSun, Inc. (Nasdaq: ISUN) has announced its inclusion in the Russell Microcap® Index, effective June 28. This recognition follows their successful public market entry via a SPAC merger in 2019 and attainment of a project backlog valued at $81 million. The company aims for growth through organic strategies and acquisitions, evidenced by their acquisition of iSun Energy. The Russell Microcap® Index, utilized by investment managers and institutional investors, benchmarks $10.6 trillion in assets against Russell indexes, enhancing ISUN's visibility in the market.
- Inclusion in the Russell Microcap® Index enhances visibility and credibility for ISUN.
- Reported $81 million project backlog indicates strong growth potential.
- Acquisition of iSun Energy contributes positively to revenue generation.
- None.
iSun, Inc. (Nasdaq: ISUN) (“ISUN” or the “Company”), a leading solar energy and clean mobility infrastructure company with 50-years of construction experience in solar, electrical and data services, announced today that iSun is set to join the Russell Microcap® Index at the conclusion of the 2021 Russell indexes annual reconstitution, effective after the US market opens on June 28, according to a preliminary list of additions posted June 4.
https://content.ftserussell.com/sites/default/files/russell_microcap_additions_-_2021.pdf
Membership in the Russell Microcap® Index, which remains in place for one year, means automatic inclusion in the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes.
Jeffrey Peck, iSun’s Chief Executive Officer, commented, “We entered the public markets by a SPAC merger in 2019, and have successfully completed our deSPAC process with the redemption of all public warrants earlier this year. We recognized our immense opportunity in the renewable energy sector and set on a growth path in the public markets to execute our strategy of organic growth, accretive M&A, and asset ownership for recurring revenue. We have made substantial progress with our recently stated
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately
For more information on the Russell Microcap® Index and the Russell indexes reconstitution, go to the “Russell Reconstitution” section on the FTSE Russell website.
ABOUT iSun
Headquartered in Burlington, VT, iSun, Inc. (NASDAQ: ISUN) is a business rooted in values that align people, purpose, innovation, and sustainability. Ranked by Solar Power World as one of the leading commercial solar contractors in the United States, iSun provides solar energy and clean mobility infrastructure to customers for projects from smart solar mobile phone and electric vehicle charging to large utility renewable energy solutions. Since entering the renewable energy market in 2012, iSun has installed over 400 megawatts of rooftop, ground mount and EV carport solar systems (equal to power required for 76,000 homes). We continue to focus on profitable growth opportunities. For more information, visit www.isunenergy.com
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
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FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements about (i) iSun’s plans, objectives, expectations and intentions and other statements contained in this press release that are not historical facts; and (ii) other statements identified by words such as “expects” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “targets,” “projects,” or words of similar meaning generally intended to identify forward-looking statements. These forward-looking statements are based upon the current beliefs and expectations of the respective management of iSun and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond the control of iSun. In addition, these forward-looking statements are subject to assumptions with respect to future business strategies and decisions that are subject to change. Actual results may differ materially from the anticipated results discussed in these forward-looking statements because of possible uncertainties.
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FAQ
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