Soliton's Inclusion in the Russell 2000 and 3000 will be Effective After the Close of the Market Today
The Russell 2000 Rebalances Annually and Represents $2.3 Trillion in Market Capitalization
HOUSTON, June 28, 2019 /PRNewswire/ -- Soliton, Inc., (Nasdaq: SOLY) ("Soliton" or the "Company"), a medical device company with a novel and proprietary platform technology licensed from The University of Texas on behalf of the MD Anderson Cancer Center ("MD Anderson"), today announced that the company will be added to the Russell 2000® and 3000® Indexes, effective after the market close on Friday, June 28, 2019, as part of the Russell Indexes annual reconstitution. The Russell Index rebalancing represented over $97 Billion in the closing moments of trading before the 2018 Russell reconstition.
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According to the Michael Sokoll, an Associate Vice President on the Market Intelligence Desk (MID) at Nasdaq, in an article posted on Nasdaq.com, "Companies that are added to, deleted from or simply remain in one of the Russell 3000 indexes should expect to see higher than normal volumes this June 28. This is because index funds conform to new index weights that are effective after the close on that day. Most of the related trading will take place at the end of the day. For most companies, it will be a pretty "normal" day until about 4:00 p.m. EDT. Then, many issuers will see block trades in their stock at the bell and afterwards. It can seem very unusual if you are not expecting it."
"We are proud Soliton will be included in the reconstitution of the Russell 2000 Index and it marks another important milestone for the Company," said Lori Bisson, Chief Financial Officer of Solition.
About Soliton, Inc.
Soliton, Inc. is a medical device company with a novel and proprietary platform technology licensed from MD Anderson. The Company's first FDA cleared commercial product will use rapid pulses of acoustic shockwaves as an accessory to lasers for the removal of unwanted tattoos. The Company is based in Houston, Texas, and is actively engaged in bringing the Rapid Acoustic Pulse ("RAP") device to the market. The Company believes this "Soliton" method has the potential to lower tattoo removal costs for patients, while increasing profitability to practitioners, compared to current laser removal methods. Soliton is investigating potential additional capabilities of the RAP technology in preclinical testing, including the potential to assist existing fat reduction technology in the reduction of fat as well as improving the appearance of cellulite by creating mechanical stress at the cellular level and inducing significant collagen growth.
For more information about the Company, please visit: http://www.soliton.com
Some of the statements in this release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995, which involve risks and uncertainties. These statements relate to future events, future expectations, plans and prospects. Although Soliton believes that the expectations reflected in such forward-looking statements are reasonable as of the date made, expectations may prove to have been materially different from the results expressed or implied by such forward-looking statements. Soliton has attempted to identify forward-looking statements by terminology including ''believes,'' ''estimates,'' ''anticipates,'' ''expects,'' ''plans,'' ''projects,'' ''intends,'' ''potential,'' ''may,'' ''could,'' ''might,'' ''will,'' ''should,'' ''approximately'' or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors, including those discussed under in our SEC filings, including under the heading "Item 1A. Risk Factors" in the Form 10-K for year ended December 31, 2018 we filed with the SEC and updated from time to time in our Form 10-Q filings and in our other public filings with the SEC. Any forward-looking statements contained in this release speak only as of its date. Soliton undertakes no obligation to update any forward-looking statements contained in this release to reflect events or circumstances occurring after its date or to reflect the occurrence of unanticipated events.
SOURCE Soliton, Inc.
Released June 28, 2019