Boxed, Inc. Announces Addition to the Russell 2000® Index

Rhea-AI Summary

Boxed, Inc. (NYSE: BOXD, BOXD WS) has been added to the Russell 2000® Index, effective June 27, 2022. This membership signifies the company’s growth following its recent business combination. The Russell 2000® Index represents the small-cap segment of the U.S. equity market, with approximately $12 trillion in assets benchmarked against Russell's indexes. Boxed's CEO, Chieh Huang, stated that inclusion in this index will enhance awareness of Boxed as the company pursues its growth objectives.

Positive

• Inclusion in Russell 2000® Index may increase investor interest.
• Indicates positive momentum post recent business combination.

Negative

• None.

NEW YORK, June 07, 2022 (GLOBE NEWSWIRE) -- Boxed, Inc. (NYSE: BOXD, BOXD WS) (“Boxed” or the “Company”), an e-commerce grocery platform that sells bulk consumables and licenses its e-commerce software to enterprise retailers, today announced that the Company's stock will be added to the Russell 2000^® Index, effective as of market open on June 27, 2022, according to a preliminary list of additions posted by FTSE Russell on June 3, 2022.

The Russell 2000^® Index measures the performance of the small-cap segment of the U.S. equity market. Membership in the Russell 2000^® Index, which remains in place until the next reconstitution, is based on membership in the broad market Russell 3000^® Index. Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $12 trillion in assets are benchmarked against Russell's US indexes. Russell indexes are part of FTSE Russell, a leading global index provider.

Chieh Huang, Co-Founder and Chief Executive Officer of Boxed, commented, “The addition of Boxed to the Russell 2000^® Index is indicative of further momentum following our successful business combination in December. We believe being a part of these highly regarded and widely used indexes will bring greater awareness to Boxed as we work to achieve our growth potential.”

About Boxed
Boxed is an e-commerce retailer and an e-commerce enabler. The Company operates an e-commerce retail service that provides bulk pantry consumables to businesses and household customers, without the requirement of a “big-box” store membership. This service is powered by the Company’s own purpose-built storefront, marketplace, analytics, fulfillment, advertising, and robotics technologies. Boxed further enables e-commerce through its Software & Services business, which offers customers in need of an enterprise-level e-commerce platform access to its end-to-end technology. The Company has developed a powerful, unique brand, known for doing right by its customers, employees and society. For more information visit www.boxed.com.

Investor Contacts
Chris Mandeville
ICR
BoxedIR@icrinc.com

Media Contacts
David Taft
Boxed
press@boxed.com

FAQ

When will Boxed, Inc. be added to the Russell 2000® Index?

Boxed, Inc. will be added to the Russell 2000® Index effective June 27, 2022.

What is the significance of being added to the Russell 2000® Index for Boxed, Inc.?

Membership in the Russell 2000® Index can lead to greater investor interest and awareness for Boxed, Inc.

How much in assets are benchmarked against Russell's indexes?

Approximately $12 trillion in assets are benchmarked against Russell's US indexes.

What does the Russell 2000® Index measure?

The Russell 2000® Index measures the performance of the small-cap segment of the U.S. equity market.