Newspaper article Sarasota Herald Tribune

XG Plans to Sell More Stock and Warrants

Newspaper article Sarasota Herald Tribune

XG Plans to Sell More Stock and Warrants

Article excerpt

PUBLIC OFFERING

SARASOTA -- XG Technology Inc. says it plans to sell stock and warrants to purchase common stock in an underwritten public offering.

The locally based cognitive radio company did not offer specifics about the proposed sale.

Aegis Capital Corp. is acting as the sole book-running manager for the offering.

"The company intends to use the net proceeds from this offering for working capital and to fund other general corporate purposes, including funding the costs of operating as a public company," the Sarasota company said in a short written statement. "The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering."

In December, the company closed a stock offering that raised $10 million. …

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