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Slideshow Secondary Stock Offerings

By The Online Investor Staff, updated Sat., Jul. 23, 8:59 PM

Slide #14. xG Technology, Inc. Secondary Offering

Company: xG Technology, Inc. (NASDAQ:XGTI)
Date announced: 7/15/2016
Shares Offered: 7,300,000
Date of Pricing: 7/15/2016
Price Per Share: $0.69
Secondary Offering Details: xG Technology, Inc. ("xG" or the "Company") (Nasdaq: XGTI, XGTIW), a leader in providing critical wireless communications for use in challenging operating environments, announced today the pricing of an underwritten public offering of 7,300,000 Units, at a price of $0.685 per Unit, each of which consists of one share of its common stock and 1.25 of a Warrant to purchase one share of its common stock at an exercise price of $0.685 per share. The Company has also granted to the underwriters a 45-day option to acquire an additional 1,095,000 shares and/or 1,368,750 warrants to cover overallotments in connection with the offering. After the underwriting discount and estimated offering expenses payable by the company, the company expects to receive net proceeds of approximately $4.34 million, assuming no exercise of the overallotment option.

xG Technology develops a portfolio of intellectual property. Co.'s intellectual property is embedded in its software algorithms that offer cognitive interference mitigation and spectrum access solutions. Co. has developed frequency-agnostic cognitive radio solutions. Co. focuses on various industries across the world, such as telecommunications, cable, defense and public safety, municipal governments, critical infrastructure and markets ranging from rural to urban areas and expeditionary deployments. The implementation of its cognitive radio intellectual property is xMax.
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Company Name:  xG Technology Inc
Website:  www.xgtechnology.com
Sector:  Manufacturing
Number of ETFs Holding XGTI:  1
Total Market Value Held by ETFs:  $630
Total Market Capitalization:  $4.00M
% of Market Cap. Held by ETFs:  0.02%
 

Open the XGTI Page at The Online Investor (in a new window) »

July 23, 2016    8:59 PM Eastern
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