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xG Technology Closes $3,200,005 Registered Direct Offering and Concurrent Private Placement

SARASOTA, Fla. , Aug.andnbsp;xG® Technology, Inc. (“xG”, “xG Technology”, or the “Company”) (Nasdaq: XGTI, XGTIW), a leading provider of wireless video solutions to broadcast, law enforcement and defense markets, and private mobile broadband networks for critical communications, today announced the closing of its previously announced registered direct offering of 1,560,978 shares of its common stock at a an offering price of $ 2.05 per share and its concurrent private placement of common stock purchase warrants (the “Warrants”) to purchase 780,489 shares of common stock. The Warrants have a per share exercise price of $ 2.50 , are exercisable immediately and will expire five (5) years from the date of issuance. Click here for more.

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