Phunware Set to Join Russell Microcap® Index
Phunware, Inc. (NASDAQ: PHUN) announced its inclusion in the Russell Microcap® Index, effective June 28, 2021. This membership enhances the company's equity profile among investors and provides automatic inclusion in growth and value style indexes. CEO Alan Knitowski highlighted this as a significant milestone in their growth journey, alongside the launch of the PhunWallet app and a global distribution agreement with a major tech company. Russell indexes are essential for investment managers, with $10.6 trillion in assets benchmarked against them.
- Inclusion in the Russell Microcap® Index enhances equity profile and visibility among investors.
- Recent launch of PhunWallet app indicates expanded service offerings.
- New global distribution agreement with a major technology company signifies business growth.
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AUSTIN, Texas, June 14, 2021 (GLOBE NEWSWIRE) -- Phunware, Inc. (NASDAQ: PHUN) (“Phunware” or “the Company”) a fully-integrated enterprise cloud platform for mobile that provides products, solutions, data and services for brands worldwide, 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.
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.
“It is a pleasure to join the Russell Microcap® Index, as it will help develop our equity profile across the broader investment community,” said Alan S. Knitowski, President, CEO and Co-Founder of Phunware. “This milestone is an encouraging next step of growth in our capital markets journey, in parallel with the progressing trajectory of our operational business. With the recent debut of our PhunWallet app, and the successful launch of our first major global distribution agreement with a large publicly-traded technology company, we are now poised for a successful 2021 and beyond.”
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 Phunware, Inc.
Everything You Need to Succeed on Mobile — Transforming Digital Human Experience
Phunware, Inc. (NASDAQ: PHUN), is the pioneer of Multiscreen-as-a-Service (MaaS), an award-winning, fully integrated enterprise cloud platform for mobile that provides companies the products, solutions, data and services necessary to engage, manage and monetize their mobile application portfolios and audiences globally at scale. Phunware’s Software Development Kits (SDKs) include location-based services, mobile engagement, content management, messaging, advertising, loyalty (PhunCoin & Phun) and analytics, as well as a mobile application framework of pre-integrated iOS and Android software modules for building in-house or channel-based mobile application and vertical solutions. Phunware helps the world’s most respected brands create category-defining mobile experiences, with more than one billion active devices touching its platform each month. For more information about how Phunware is transforming the way consumers and brands interact with mobile in the virtual and physical worlds visit www.phunware.com, www.phuncoin.com, www.phuntoken.com, and follow @phunware, @phuncoin and @phuntoken on all social media platforms.
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
FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. Approximately
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.
Investor Relations Contact:
Matt Glover and John Yi
Gateway Investor Relations
Email: PHUN@gatewayir.com
Phone: (949) 574-3860
PR & Media Inquiries:
Email: press@phunware.com
Phone: (512) 693-4199
