xG Technology Inc. S-1 registration statement filed (2582R)
October 24 2013 - 1:00AM
UK Regulatory
TIDMXGT TIDMXGTU
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.
END
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
ccapaccio@lhai.com
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
END
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