HOUSTON, June 11,
2024 /PRNewswire/ -- Flotek Industries, Inc.
("Flotek" or the "Company") (NYSE: FTK) announced today that the
company is set to join the Russell Microcap® Index at the
conclusion of the 2024 Russell US Indexes annual reconstitution,
effective at the open of US equity markets on Monday, July 1, 2024.
The annual Russell US Indexes reconstitution captures the 4,000
largest US stocks as of Tuesday, April
30th, ranking them by total market capitalization.
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.
"Joining the Russell Microcap® Index is an important milestone
for Flotek and validates the progress we have made over the past 18
months in building a resilient and differentiated chemistry and
data analytics business," said Dr. Ryan
Ezell, Chief Executive Officer of Flotek. "We believe our
addition to this index will greatly benefit our shareholders by
boosting our visibility within the investment community. We look
forward to introducing Flotek to a broader segment of investors
through the inclusion in this prominent index."
About FTSE Russell
FTSE 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.
About Flotek Industries, Inc.
Flotek Industries, Inc. is an advanced technology-driven, green
chemical and data analytics company providing unique and innovative
completion solutions that have a proven, positive impact on
sustainability and reducing the overall environmental impact of
energy on air, land, water and people. Flotek has an intellectual
property portfolio of over 170 patents and a global presence in
more than 59 countries throughout North
America, Latin America, the
Middle East and North Africa. Flotek has established
collaborative partnerships focused on sustainable and optimized
chemistry and data solutions which improve well performance and
allow its customers to generate higher returns on invested
capital.
Flotek is based in Houston,
Texas and its common shares are traded on the New York Stock
Exchange under the ticker symbol "FTK". For additional information,
please visit www.flotekind.com.
Forward-Looking Statements
Certain statements set forth in this press release constitute
forward-looking statements (within the meaning of Section 27A of
the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934) regarding Flotek Industries, Inc.'s business,
financial condition, results of operations and prospects. Words
such as will, continue, expects, anticipates, intends, plans,
believes, seeks, estimates and similar expressions or variations of
such words are intended to identify forward-looking statements, but
are not the exclusive means of identifying forward-looking
statements in this press release. Although forward-looking
statements in this press release reflect the good faith judgment of
management, such statements can only be based on facts and factors
currently known to management. Consequently, forward-looking
statements are inherently subject to risks and uncertainties, and
actual results and outcomes may differ materially from the results
and outcomes discussed in the forward-looking statements. Further
information about the risks and uncertainties that may impact the
company are set forth in the Company's most recent filing with the
Securities and Exchange Commission on Form 10-K (including, without
limitation, in the "Risk Factors" section thereof), and in the
Company's other SEC filings and publicly available documents.
Readers are urged not to place undue reliance on these
forward-looking statements, which speak only as of the date of this
press release. The Company undertakes no obligation to revise or
update any forward-looking statements in order to reflect any event
or circumstance that may arise after the date of this press
release.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/flotek-set-to-join-the-russell-microcap-index-302168342.html
SOURCE Flotek Industries, Inc.