Bohemia, New York, June 28, 2021 (GLOBE NEWSWIRE) -- AmpliTech Group, Inc. (NASDAQ: AMPG), a designer, developer, and manufacturer of state-of-the-art components and semiconductor chips for satellite and 5G communications networks, defense, space, and other commercial applications, announced it has been added to the Russell Microcap® Index in conjunction with the Index's annual reconstitution, which took effect after the market’s close on June 25th.
Membership in the Russell Microcap® Index remains in place for one year, with inclusion, as appropriate, in Russell's Microcap Growth and Microcap Value style indexes. Membership for Russell indexes is determined primarily by objective, market-capitalization rankings and style attributes.
CEO Fawad Maqbool, commented, "Inclusion in the Russell Microcap® Index is a testament to the progress we have made positioning AmpliTech to participate in the build-out of satellite networks, 5G communications and other next-generation networks. These systems will provide enhanced data and bandwidth capabilities essential for supporting rapid growth in connected devices, entertainment and gaming content distribution, video conferencing, Internet of Things (IoT) applications, autonomous-vehicle communications, quantum computing, space exploration and other bandwidth-intensive applications.
“We are actively pursuing the broad range of growth opportunities before us, supported by our strong financial position - with nearly $30M in cash - and our reputation for industry-leading solutions. We expect AmpliTech’s exciting outlook to be supported by the added investment community visibility and awareness provided by our Russell index inclusion."
The Russell Microcap Index is constructed to provide a comprehensive and unbiased barometer for the microcap segment of the U.S. equity market, which makes up less than 3% of the U.S. equity market (by market cap). The Russell Microcap Index consists of the smallest 1,000 securities in the small-cap Russell 2000® Index, plus the next 1,000 smallest eligible securities by market cap.
About FTSE Russell:
Russell indexes are part of FTSE Russell, a global index leader that provides innovative benchmarking, analytics and data solutions for investors worldwide. Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $17.9 trillion is currently benchmarked to FTSE Russell indexes. For more information on the Russell Microcap® Index and the Russell indexes reconstitution, go to the “Russell Reconstitution” section on the FTSE Russell website. FTSE Russell is wholly owned by London Stock Exchange Group.
About AmpliTech (www.amplitechinc.com)
AmpliTech Group, Inc. designs, develops, and manufactures state-of-the-art radio frequency (RF) components for global satellite communications, telecom (5G & IoT), space, defense, and quantum computing markets as well as systems and component design consulting services. AmpliTech has a 13+ year track record of developing high performance, custom solutions to meet the unique needs of some of the largest companies in the global industries we serve. We are proud of the unique skills, experience and dedication of our focused team which enables us to deliver superior solutions, faster time to market, competitive pricing and excellent customer satisfaction and repeat business.
Safe Harbor Statement
This release contains statements that constitute forward-looking statements. These statements appear in several places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) the Company's ability to execute its business plan as anticipated; (ii) trends affecting the Company's financial condition or results of operations; (iii) the Company's growth strategy and operating strategy. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend," and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements because of various factors. Other risks are identified and described in more detail in the “Risk Factors” section of the Company’s filings with the SEC, all of which are available on our website. We undertake no obligation to update, and we do not have a policy of updating or revising, these forward-looking statements, except as required by applicable law.
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Company Contact Investor Contact:
Shan Sawant, Director of Communications David Collins, Investor Relations
AmpliTech Group, Inc. Catalyst IR
shan@amplitech.com AMPG@catalyst-ir.com
646-546-7128 212-924-9800