SARASOTA, Fla., April 22, 2014 /PRNewswire/ – xG Technology, Inc. (Nasdaq: XGTI) (“xG” or a “Company”), announced now that it has sealed a formerly announced underwritten open charity of a common stock. The Company charity 5,265,000 shares of a common batch during $1.90 per share to a public. xG perceived sum deduction from a offering, before deducting a underwriting bonus and estimated charity losses payable by xG, of approximately $10,000,000.
The Company intends to use a net deduction perceived from a charity for ubiquitous corporate purposes, including operative capital, product growth and fulfillment, selling activities, enlargement of inner sales organization, serve growth of sales channels, finalize a transition to agreement prolongation production lines, and other collateral expenditures.
Roth Capital Partners is behaving as solitary book-running manager, and Feltl Company is behaving as co-manager for a offering.
The charity was done pursuant to a registration matter on Form S-1 that xG filed with a Securities and Exchange Commission (“SEC”) and that is effective. A final handbill addition containing critical information relating to these bonds was filed with a SEC. Electronic copies of a handbill addition and concomitant handbill will also be permitted on a website of a SEC at http://www.sec.gov. Copies of a final handbill relating to a charity might be performed from a offices of Roth Capital Partners, Prospectus Department, 888 San Clemente, Newport Beach, CA 92660, (800) 678-9147, or from a above-mentioned SEC website.
This press recover shall not consecrate an offer to sell or a questionnaire of an offer to buy, nor shall there be any sale of these bonds in any state or office in that such an offer, questionnaire or sale would be wrong before to registration or gift underneath a bonds laws of any such state or jurisdiction.
About xG Technology
xG Technology has combined a extended portfolio of egghead skill that creates wireless networks some-more intelligent, accessible, affordable and reliable. The association has combined xMax, a law all-IP cognitive radio technology that enables spectrum sharing. xMax can solve the predicament confronting a wireless industry caused by data-hungry inclination and applications that are straining network capacity. It eliminates a need to acquire wanting and costly protected spectrum, so obscure a sum cost of tenure for wireless broadband access. xG’s idea is to assistance wireless broadband network operators make some-more fit use of their spectrum allocations and to emanate new opportunities for creation in unlawful spectrum. The xMax cognitive radio complement incorporates modernized optimizing technologies that embody spectrum sharing, division slackening multiple-input multiple-output (MIMO) and program tangible radio (SDR). xG offers solutions for numerous industries worldwide, including civic and farming wireless broadband, utilities, defense, puncture response and open safety.
Based in Sarasota, Florida, xG has 60 U.S. and over 140 general patents and tentative obvious applications, and a record is permitted for chartering in both domestic and unfamiliar markets. xG is a publicly traded association listed on a NASDAQ Capital Market where xG common batch is traded underneath a pitch XGTI and xG warrants are traded underneath a symbol XGTIW.
For some-more information, greatfully revisit www.xgtechnology.com
Cautionary Statement Regarding Forward Looking Statements
Statements contained herein that are not formed on stream or chronological fact are forward-looking in inlet and consecrate forward-looking statements within a definition of Section 27A of a Securities Act of 1933 and Section 21E of a Securities Exchange Act of 1934. Such forward-looking statements simulate a Company’s expectations about a destiny handling results, opening and opportunities that engage estimable risks and uncertainties. These statements embody though are not singular to statements per a dictated terms of a offering, shutting of a charity and use of any deduction from a offering. When used herein, a difference “anticipate,” “believe,” “estimate,” “upcoming,” “plan,” “target”, “intend” and “expect” and identical expressions, as they describe to xG Technology, Inc., a subsidiaries, or a management, are dictated to brand such forward-looking statements. These forward-looking statements are formed on information now permitted to a Company and are theme to a series of risks, uncertainties, and other factors that could means a Company’s tangible results, performance, prospects, and opportunities to differ materially from those voiced in, or pragmatic by, these forward-looking statements.
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SOURCE xG Technology, Inc.
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