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
Forward-Looking Statements
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.
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SOURCE Soliton, Inc.