Business
Red Cat Holdings set to join Russell Microcap® Index in June 2021
HUMACAO, Puerto Rico, June 8, 2021 /PRNewswire/ -- Red Cat Holdings, Inc. (Nasdaq: RCAT) ("Red Cat'' or the "Company"), a hardware enabled software provider
About this update from Red Cat Holdings, Inc.
[{"type":"text","content":"HUMACAO, Puerto Rico, June 8, 2021 /PRNewswire/ -- Red Cat Holdings, Inc. (Nasdaq: RCAT) (\"Red Cat'' or the \"Company\"), a hardware enabled software provider to the drone industry, announced that it has been selected to join the Russell Microcap® Index at the conclusion of the 2021 annual reconstitution, effective after the US market opens on June 28, according to a preliminary list of additions posted by FTSE Russell on Friday, June 4, 2021.\n\n \n \n \n \n \n \n\n \nMembership 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. \n\"We are excited to join the Russell 3000 index which is recognized as holding shares in the most promising, emerging technology companies,\" stated Jeffrey Thompson, Chief Executive Officer. \"The drone industry is forecast to grow significantly over the next decade and Red Cat is positioned to be a leading facilitator of that growth.\"\n\"Our shareholders will benefit from an increase in demand and liquidity in our common stock as index funds replicate the new holdings in the Russell index,\" stated Joseph Hernon, Chief Financial Officer. \"Our inclusion in the Microcap index represents another step forward in our mission to be a leader in the drone industry.\"\nRussell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $10.6 trillion in assets are benchmarked against Russell's US indexes. Russell indexes are part of FTSE Russell, a leading global index provider.\nAbout Red Cat Holdings, Inc.\nRed Cat provides products, services and solutions to the drone industry through its four wholly owned subsidiaries. Fat Shark Holdings is the leading provider of First Person View (FPV) video goggles to the drone industry. Rotor Riot, LLC is a leader in the sale of FPV drones and equipment, primarily to the consumer marketplace through its digital storefront located at www.rotorriot.com. Rotor Riot enjoys high visibility in social media through its Facebook page and its sponsorship of a professional drone racing team which has won numerous championships. Skypersonic provides sof...