NextNav Set to Join Russell 2000® Index

Rhea-AI Summary

NextNav, a leader in next generation GPS technologies, announced its inclusion in the Russell 2000 Index effective June 24, 2022. This milestone follows its transition to a publicly traded company and is expected to enhance visibility among investors. The index captures the largest US stocks based on market capitalization, and its membership supports NextNav's commitment to shareholder value. The Russell indexes are widely used by investment managers and benchmark approximately $12 trillion in assets.

Positive

• Inclusion in Russell 2000 Index enhances visibility and credibility with investors.
• This milestone signifies strong business momentum since becoming publicly traded.

Negative

• None.

Inclusion in the Index Highlights NextNav’s Market Leadership in Next Generation GPS Technologies

MCLEAN, Va., June 09, 2022 (GLOBE NEWSWIRE) -- 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 Nagarajan
Sloane & Company
ebartsch@sloanepr.com; nnagarajan@sloanepr.com

FAQ

When will NextNav be included in the Russell 2000 Index?

NextNav will be included in the Russell 2000 Index effective June 24, 2022.

What is the significance of NextNav's inclusion in the Russell 2000 Index?

Inclusion in the Russell 2000 Index enhances NextNav's visibility with investors and reflects its strong market position.

How does the Russell Index affect NextNav's stock performance?

Membership in the Russell Index often leads to increased investment interest, potentially boosting NextNav's stock performance.

What is the market capitalization ranking for the Russell Index?

The Russell Index ranks the largest US stocks based on market capitalization, capturing the top 4,000 stocks.

How much capital is benchmarked against Russell's US indexes?

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