Foxx Development Holdings (FOXX) to Join Russell Microcap Index

Foxx Development Holdings Inc. (“Foxx Development” or “Company”) (Nasdaq: FOXX), a leading provider of consumer electronics and integrated Internet-of-Things (IoT) solutions for retail and institutional clients, today announced that the Company will be included in the Russell Microcap® Index following FTSE Russell's preliminary 2025 annual reconstitution list. Foxx is among the telecommunications companies slated to join the list, representing a significant milestone for the Company. The newly reconstituted indexes will take effect after U.S. market close on June 27.

The Russell Microcap® Index is completely reconstituted annually to ensure new and growing equities are reflected and companies included continue to reflect appropriate capitalization and value characteristics. After meeting the index's market capitalization and liquidity requirements and qualifying for inclusion, Foxx now joins a select group of emerging growth companies in this benchmark.

"Joining the Russell Microcap® Index is nothing short of an honor,” said Greg Foley, CEO of Foxx Development Holdings Inc. "Being recognized alongside America's promising growth companies validates our financial performance and the tangible impact we're making in consumer electronics and IoT solutions. We believe our team has built something meaningful here, and Russell Microcap® Index inclusion puts us on the radar of institutional investors who specialize in emerging growth opportunities and may help fuel our expansion."

Russell Microcap® Index inclusion typically increases a company's visibility among institutional investors who track small-cap benchmarks. The designation often leads to enhanced liquidity as index funds and ETFs that follow the Russell Microcap automatically purchase shares of constituent companies.

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