xG Technology Inc.

S-1 registration statement filed

RNS Number : 2582R
xG Technology Inc.
24 October 2013
 



NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR FROM THE UNITED STATES OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.  THIS ANNOUNCEMENT IS MADE IN ACCORDANCE WITH THE REQUIREMENTS OF THE AIM RULES FOR COMPANIES.

 

October 24, 2013

 

 

xG Technology, Inc.

 ("xG", "xG Technology" or the "Company")

 

xG Technology (Nasdaq: XGTI, XGTIW; AIM: XGTU.L, XGT.L), a developer of wireless communications and spectrum sharing technologies, today announced that it has filed a registration statement on Form S-1 with the United States Securities and Exchange Commission for a proposed follow-on public offering of its shares. The number of shares to be sold in the proposed offering and the offering price has not yet been determined.

A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The offering will be made only by means of a prospectus.

A copy of the registration statement can be accessed through the Securities and Exchange Commission's web site at www.sec.gov.

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Contacts

xG Technology, Inc.

www.xgtechnology.com

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



LHA (Investor Relations)

 

www.lhai.com

 

Carolyn Capaccio

 

+1 (212) 838-3777

[email protected]

 

 

ABOUT xG TECHNOLOGY

xG Technology develops a broad portfolio of intellectual property to make wireless networks more intelligent, accessible, affordable and reliable. The company has created xMax, a patented all-IP cognitive radio technology that enables spectrum sharing. xMax can solve the crisis facing the wireless industry caused by data-hungry devices and applications that are straining network capacity. It eliminates the need to acquire scarce and expensive licensed spectrum, thus lowering the total cost of ownership for wireless broadband access. xG's goal is to help wireless broadband network operators make more efficient use of their spectrum allocations and to create new opportunities for innovation in unlicensed spectrum. The xMax cognitive radio system incorporates advanced optimizing technologies that include spectrum sharing and interference mitigation. xG offers solutions for numerous industries worldwide, including urban and rural wireless broadband, utilities, defense, emergency response and public safety.

Based in Sarasota, Florida, xG has over 60 U.S. and over 140 international patents and pending patent applications, and its technology is available for licensing in both domestic and foreign markets. xG is a publicly traded company listed on the NASDAQ Capital Market and on the London Stock Exchange's Alternative Investment Market (AIM). On the NASDAQ, xG common stock is traded under the symbol XGTI and xG warrants are traded under the symbol  XGTIW. On the AIM, xG's unrestricted shares trade under the stock symbol XGTU.L and xG's restricted 'Reg S' shares trade under the stock symbol XGT.L. For more information, please visit www.xgtechnology.com.

 

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
 
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