Included in Preliminary List of Additions
HENDERSON, Nev. – June 8, 2023 – (Business Wire) – Paysign, Inc. (NASDAQ: PAYS), a leading provider of prepaid card programs, comprehensive patient affordability offerings, digital banking services and integrated payment processing, today announced it expects to join the broad-market Russell 3000® Index at the conclusion of the 2023 Russell indexes annual reconstitution, effective after the U.S. market opens on June 26, based upon the preliminary list of additions announced by FTSE Russell on May 19.
Annual Russell indexes reconstitution captures the 4,000 largest U.S. stocks as of April 28, ranking them by total market capitalization. Membership in the U.S. 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.
Paysign’s CEO, Mark Newcomer, stated, “We are thrilled to see our organization included in the preliminary list for the 2023 annual reconstitution of the Russell 3000 Index. This milestone is a testament to the hard work and dedication of our exceptional team at Paysign. It reflects our successful strategic vision and our unwavering commitment to offering innovative payment solutions to our customers. We remain steadfast in our dedication to driving sustainable growth and maximizing shareholder value.”
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $12.1 trillion in assets are benchmarked against Russell’s U.S. indexes. 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, go to the “Russell Reconstitution” section on the FTSE Russell website.
About FTSE Russell
FTSE Russell is a global index leader that provides innovative benchmarking, analytics and data solutions for investors worldwide. FTSE Russell calculates thousands of indexes that measure and benchmark markets and asset classes in more than 70 countries, covering 98% of the investable market globally. FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. Approximately $20.1 trillion is currently benchmarked to FTSE Russell indexes. 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. A core set of universal principles guides FTSE Russell index design and management: a transparent rules-based methodology is informed by independent committees of leading market participants. FTSE Russell is focused on applying the highest industry standards in index design and governance and embraces the IOSCO Principles. FTSE Russell is also focused on index innovation and customer partnerships as it seeks to enhance the breadth, depth and reach of its offering. FTSE Russell is wholly owned by London Stock Exchange Group. For more information, visit www.ftserussell.com.
Certain statements in this press release may be considered forward-looking statements under federal securities laws, and the company intends that such forward-looking statements be subject to the safe harbor created thereby. All statements, besides statements of fact, included in this press release are forward-looking. Such forward-looking statements include, among others, the final inclusion of the company in the Russell 3000®. We caution that these statements are qualified by important risks, uncertainties and other factors that could cause actual results to differ materially from those reflected by such forward-looking statements. Such factors include, among others, the risk that FTSE Russell will remove the company from the 2023 reconstitution list of additions as well as the risk factors set forth in our Form 10-K for the year ended December 31, 2022. Except to the extent required by federal securities laws, the company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise.
About Paysign, Inc.
Paysign, Inc. is a leading provider of prepaid card programs, comprehensive patient affordability offerings, digital banking services and integrated payment processing designed for businesses, consumers and government institutions. Founded in 2001 and headquartered in southern Nevada, the company creates customized, innovative payment solutions for clients across all industries, including pharmaceutical, healthcare, hospitality, and retail. Built on the foundation of a reliable payments platform, Paysign’s end-to-end technologies securely enable digital payout solutions and facilitate the distribution of funds for donor compensation, copay assistance, customer incentives, employee rewards, gift cards, travel expenses and per diem, as well as reimbursements and rebates. Paysign’s solutions lower administrative costs, streamline operations, increase revenues, accelerate product adoption and improve customer, employee and channel partner loyalty. To learn more, visit paysign.com.