Everspin Technologies to Join Russell 2000 ® Index

Rhea-AI Summary

Everspin Technologies (NASDAQ: MRAM) announced its inclusion in the Russell 2000® Index as of July 1, 2024. The annual reconstitution of the Russell indexes identifies the 4,000 largest U.S. stocks based on market capitalization, ensuring automatic inclusion in either the Russell 1000® or 2000® Index.

This milestone underscores Everspin's commitment to scaling its business and enhancing its portfolio of MRAM persistent memory solutions. The inclusion in the Russell 2000® Index is expected to attract a broader range of investors, potentially expanding its shareholder base.

Everspin is a leading developer of MRAM technology, known for its superior data persistence, endurance, and reliability, catering to markets from data centers to edge devices. Approximately $10.5 trillion in assets are benchmarked against the Russell indexes, highlighting the significance of this inclusion.

Positive

• Inclusion in the Russell 2000® Index as of July 1, 2024.
• Expected to attract a broader range of investors and expand the shareholder base.

Negative

• None.

CHANDLER, Ariz.--(BUSINESS WIRE)-- Everspin Technologies, Inc. (NASDAQ: MRAM), the world’s leading developer and manufacturer of Magnetoresistive Random Access Memory (MRAM) persistent memory solutions, today announced its inclusion in the Russell 2000® Index as part of the annual reconstitution of the Russell stock indexes. This inclusion was effective at the opening of U.S. equity markets on Monday, July 1, 2024, based on the preliminary list of additions posted on Friday, May 24, 2024.

The annual Russell indexes reconstitution captures the 4,000 largest U.S. stocks as of Friday, June 28, 2024, ranking them by total market capitalization. Membership in the U.S. all-cap Russell 3000® Index, which lasts for one year, guarantees automatic inclusion in either the large-cap Russell 1000® Index or the small-cap Russell 2000® Index, along with the appropriate growth and value style indexes. FTSE Russell primarily determines index membership based on objective market-capitalization rankings and style attributes.

“We are pleased to join the Russell 2000® Index and believe our inclusion highlights our commitment to further scaling our business and growing our portfolio of persistent memory solutions,” said Sanjeev Aggarwal, President and Chief Executive Officer. “This achievement marks an important milestone for Everspin, and we are excited to share our story with a wider audience of investors, which we believe will further expand our shareholder base.”

For more than a decade, Everspin has been at the forefront of MRAM technology, providing advanced memory solutions for the most demanding applications worldwide. The company’s cutting-edge MRAM technology ensures exceptional data persistence, endurance, and reliability, serving a diverse range of top-tier customers in markets from data centers to edge devices.

Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $10.5 trillion in assets are benchmarked against Russell's U.S. indexes. FTSE Russell, a leading global index provider, administers these indexes.

For more information on the Russell 2000® Index and the Russell indexes reconstitution, please visit the “Russell Reconstitution” section on the FTSE Russell website.

About Everspin Technologies

Everspin Technologies, Inc. is the world’s leading provider of Magnetoresistive RAM (MRAM). Everspin MRAM delivers the industry’s most robust, highest performance non-volatile memory for Industrial IoT, Data Center, and other mission-critical applications where data persistence is paramount. Headquartered in Chandler, Arizona, Everspin provides commercially available MRAM solutions to a large and diverse customer base. For more information, visit www.everspin.com. NASDAQ: MRAM.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240702327377/en/

Investor Relations

The Blueshirt Group

Monica Gould

212-871-3927

ir@everspin.com

Source: Everspin Technologies, Inc.

FAQ

What is the significance of Everspin Technologies' inclusion in the Russell 2000® Index?

The inclusion in the Russell 2000® Index is significant as it highlights Everspin's commitment to scaling its business and provides potential for a broader investor base.

When did Everspin Technologies join the Russell 2000® Index?

Everspin Technologies joined the Russell 2000® Index effective July 1, 2024.

How does Everspin Technologies' inclusion in the Russell 2000® Index affect investors?

The inclusion is expected to attract a wider range of investors and potentially expand the shareholder base for Everspin Technologies.

What is the stock symbol for Everspin Technologies?

The stock symbol for Everspin Technologies is NASDAQ: MRAM.

What criteria are used for inclusion in the Russell 2000® Index?

Inclusion in the Russell 2000® Index is based on market capitalization rankings and style attributes as determined by FTSE Russell.