xG Technology Inc. Exercise of Over-Allotment Option (8271L)
15 Agosto 2013 - 12:30PM
UK Regulatory
TIDMXGT TIDMXGTU
RNS Number : 8271L
xG Technology Inc.
15 August 2013
15 August 2013
xG Technology, Inc.
("xG", "xG Technology" or the "Company")
Exercise of Over-Allotment Option
xG Technology, Inc. (Nasdaq: XGTI, XGTIW; AIM: XGTU.L, XGT.L),
announces that the underwriters of its previously announced
underwritten public offering of its common stock and warrants to
purchase its common stock exercised their over-allotment option to
purchase an additional 200,668 shares and 100,334 warrants to
purchase an additional 100,334 shares. After giving effect to this
option exercise, the offering involved 1,538,460 shares of common
stock and 769,230 warrants to purchase an additional 769,230 shares
of common stock. The initial public offering price was $5.50 per
share and $0.01 per warrant. xG will receive gross proceeds from
the offering, including the exercised over-allotment option, before
deducting the underwriting discount and estimated offering expenses
payable by xG, of approximately $8,469,222.
As previously announced, xG intends to use the proceeds of this
offering for general corporate purposes, including working capital,
product development, marketing activities, expanding its internal
sales organization and further developing sales channels, funding
the set-up of contract manufacturing production lines and other
capital expenditures.
Feltl and Company Inc. and Aegis Capital Corp. acted as the
book-running managers for the offering.
The offering is being made pursuant to a registration statement
on Form S-1 that xG Technology has filed with the Securities and
Exchange Commission ("SEC") and which is effective. A final
prospectus supplement containing important information relating to
these securities was filed with the SEC. Copies of the final
prospectus supplement relating to these securities may be obtained
by contacting Feltl and Company, Inc., Prospectus Department, 800
LaSalle Avenue, 2100 LaSalle Plaza, Minneapolis, MN 55402,
telephone: 612-492-8800, e-mail: prospectus@feltl.com or Aegis
Capital Corp., Prospectus Department, 810 Seventh Avenue, 18th
Floor, New York, NY, 10019,telephone: 212-813-1010 or
email:prospectus@aegiscap.com. Electronic copies of the final
prospectus supplement will also be available on the website of the
SEC at http://www.sec.gov.
This press release does not constitute an offer to sell, or the
solicitation of an offer to buy, these securities, nor will there
be any sale of these securities in any state or other jurisdiction
in which such offer, solicitation or sale is not permitted. The
securities being offered have not been approved or disapproved by
any regulatory authority, nor has any such authority passed upon
the accuracy or adequacy of the preliminary prospectus supplement,
the registration statement, or the final prospectus supplement.
Contacts
xG Technology, Inc. www.xgtechnology.com
John Coleman, Chief Executive Officer +1 212 651 4219
Roger Branton, Chief Financial Officer +1 212 651 4219
James Woodyatt, Investor Relations +1 954 572 0395
Allenby Capital Limited www.allenbycapital.com
(Nominated Adviser and Joint Broker)
Nick Naylor +44 20 3328 5656
Mark Connelly +44 20 3328 5656
First Columbus LLP (Joint Broker) www.first-columbus.com
Chris Crawford +44 20 3002 2070
Fusion PR (Media and Analyst Relations) www.fusionpr.com
David Worthington +1 212 651 4200
About xG Technology
xG Technology is a leading developer of innovative and
disruptive communications technologies for wireless networks. Its
patented intellectual property portfolio covers a broad range of
applications, including smart wireless networks that can help
address the global wireless spectrum crisis through advanced
technology. xG is commercializing some of these technologies to
create xMax, the world's first carrier-class cognitive (i.e. smart)
radio network. The Company's technology provides ways to
significantly increase the efficient use of spectrum, allowing
network operators to offload existing voice or data traffic, reduce
dropped calls, and enhance network capacity for their customers.
xMax's standards-based IP architecture minimizes network
deployment, management and operational costs while simplifying the
delivery of high quality fixed and mobile voice and data services.
xMax can enhance and extend any wireless network, and provides an
economical last mile solution for hard to reach customers and
devices. Using field-proven technology, xMax enables the delivery
of mobile broadband services to consumers, agencies and enterprises
worldwide in both licensed and free unlicensed bands. Based in the
USA, xG has over 60 US and more than 140 international patents and
pending patent applications. xG's intellectual property is
available for licensing in domestic and international markets. For
more information, please visit www.xgtechnology.com.
xG Technology is listed on the Nasdaq where it trades under the
symbols "XGTI" and "XGTIW," and on the LSE AIM where it trades
under the symbols "XGTU.L and XGT.L."
Cautionary Statement Regarding Forward Looking Statements
Statements contained herein that are not based upon current or
historical fact are forward-looking in nature and constitute
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange
Act of 1934. Such forward-looking statements reflect the Company's
expectations about its future operating results, performance and
opportunities that involve substantial risks and uncertainties.
These statements include but are not limited to statements
regarding the intended terms of the offering, closing of the
offering and use of any proceeds from the offering. When used
herein, the words "anticipate," "believe," "estimate," "upcoming,"
"plan," "target", "intend" and "expect" and similar expressions, as
they relate to xG Technology, Inc., its subsidiaries, or its
management, are intended to identify such forward-looking
statements. These forward-looking statements are based on
information currently available to the Company and are subject to a
number of risks, uncertainties, and other factors that could cause
the Company's actual results, performance, prospects, and
opportunities to differ materially from those expressed in, or
implied by, these forward-looking statements.
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCUVUVROSAWAAR
XG Tech (LSE:XGTU)
Gráfico Histórico do Ativo
De Mai 2024 até Jun 2024
XG Tech (LSE:XGTU)
Gráfico Histórico do Ativo
De Jun 2023 até Jun 2024