Byrna Technologies Inc. (“Byrna” or the
“Company”) (Nasdaq: BYRN), a technology company
specializing in the development, manufacture, and sale of
innovative less-lethal personal security solutions, today announced
that it has been added to the broad-market Russell 3000® Index. The
inclusion followed the annual reconstitution of the Russell
indexes, which took effect after the U.S. market closed on June 28,
2024.
The annual Russell indexes reconstitution
captures the 4,000 largest US stocks as of April 30, 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.
“The Russell Indexes are a well-respected and
influential benchmarking standard, and our inclusion into the
Russell 3000® Index represents the successful transition of our
advertising strategy for Byrna,” said CEO Bryan Ganz. “Since
shifting to the celebrity endorsement model in the fourth quarter
of last year, we have continued to grow our sales and customer base
while also increasing production capacity. We expect our inclusion
in this select group to bring increased exposure to the broader
investment community as we strive to deliver long-term value to our
shareholders.”
Russell indexes are widely used by investment
managers and institutional investors for index funds and as
benchmarks for active investment strategies. Russell’s US indexes
serve as the benchmark for about $10.5 trillion in assets as of the
close of December 2023. Russell indexes are part of FTSE Russell, a
leading global index provider.
For more information on the Russell 3000® Index
and the Russell indexes reconstitution, please visit the “Russell
Reconstitution” section on the FTSE Russell website.
About Byrna Technologies
Inc.Byrna is a technology company specializing in the
development, manufacture, and sale of innovative less-lethal
personal security solutions. For more information on the Company,
please visit the corporate website here or the Company's
investor relations site here. The Company is the manufacturer
of the Byrna® SD personal security device, a state-of-the-art
handheld CO2 powered launcher designed to provide a less-lethal
alternative to a firearm for the consumer, private security, and
law enforcement markets. To purchase Byrna products, visit the
Company's e-commerce store.
About FTSE RussellFTSE Russell
is a leading global provider of benchmarking, analytics, and data
solutions for investors, giving them a precise view of the market
relevant to their investment process. A comprehensive range of
reliable and accurate indexes provides investors worldwide with the
tools they require to measure and benchmark markets across asset
classes, styles, or strategies.
FTSE Russell index expertise and products are
used extensively by institutional and retail investors globally.
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.
FTSE Russell is focused on applying the highest
industry standards in index design and governance, employing
transparent rules-based methodology informed by independent
committees of leading market participants. FTSE Russell fully
embraces the IOSCO Principles, and its Statement of Compliance has
received independent assurance. Index innovation is driven by
client needs and customer partnerships, allowing FTSE Russell to
continually enhance the breadth, depth and reach of its
offering.
FTSE Russell is wholly owned by London Stock
Exchange Group.
For more information, visit
https://www.lseg.com/en/ftse-russell.
Forward-Looking StatementsThis
news release contains "forward-looking statements" within the
meaning of the securities laws. All statements contained in this
news release, other than statements of current and historical fact,
are forward-looking. Often, but not always, forward-looking
statements can be identified by the use of words such as "plans,"
"expects," "intends," "anticipates," and "believes" and statements
that certain actions, events or results "may," "could," "would,"
"should," "might," "occur," or "be achieved," or "will be taken."
Forward-looking statements include descriptions of currently
occurring matters which may continue in the future. Forward-looking
statements in this news release include, but are not limited to,
our statements related to continued inclusion in the Russell 3000®
Index and the expected exposure resulting from such inclusion.
Forward-looking statements are not, and cannot be, a guarantee of
future results or events. Forward-looking statements are based on,
among other things, opinions, assumptions, estimates, and analyses
that, while considered reasonable by the Company at the date the
forward-looking information is provided, inherently are subject to
significant risks, uncertainties, contingencies, and other factors
that may cause actual results and events to be materially different
from those expressed or implied.
Any number of risk factors could affect our
actual results and cause them to differ materially from those
expressed or implied by the forward-looking statements in this news
release, including, but not limited to, the risk of removal from
the Russell 3000® Index as the result of a future annual
reconstitution. The order in which these factors appear should not
be construed to indicate their relative importance or priority. We
caution that these factors may not be exhaustive; accordingly, any
forward-looking statements contained herein should not be relied
upon as a prediction of actual results. Investors should carefully
consider these and other relevant factors, including those risk
factors in Part I, Item 1A, ("Risk Factors") in the Company's most
recent Form 10-K, should understand it is impossible
to predict or identify all such factors or risks, should not
consider the foregoing list, or the risks identified in the
Company's SEC filings, to be a complete discussion of all potential
risks or uncertainties, and should not place undue reliance on
forward-looking information. The Company assumes no obligation to
update or revise any forward-looking information, except as
required by applicable law.
Investor Contact:Tom Colton and Alec
WilsonGateway Group, Inc. 949-574-3860BYRN@gateway-grp.com
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