xG Technology announces closing of public offering of common stock
23/04/2014 12:06
xG Technology, Inc. announced that it has closed the previously announced underwritten public offering of its common stock. The Company offered 5,265,000 shares of its common stock at USD 1.90 per share to the public. xG received gross proceeds from the offering, before deducting the underwriting discount and estimated offering expenses payable by xG, of approximately USD 10,000,000. The Company intends to use the net proceeds received from the offering for general corporate purposes, including working capital, product development and fulfillment, marketing activities, expansion of internal sales organization, further development of sales channels, finalize the transition to contract manufacturing production lines, and other capital expenditures. Roth Capital Partners is acting as sole book-running manager, and Feltl & Company is acting as co-manager for the offering.
23/04/2014 12:06
xG Technology, Inc. announced that it has closed the previously announced underwritten public offering of its common stock. The Company offered 5,265,000 shares of its common stock at USD 1.90 per share to the public. xG received gross proceeds from the offering, before deducting the underwriting discount and estimated offering expenses payable by xG, of approximately USD 10,000,000. The Company intends to use the net proceeds received from the offering for general corporate purposes, including working capital, product development and fulfillment, marketing activities, expansion of internal sales organization, further development of sales channels, finalize the transition to contract manufacturing production lines, and other capital expenditures. Roth Capital Partners is acting as sole book-running manager, and Feltl & Company is acting as co-manager for the offering.
