xG Technology

Will Showcase its Range of Wireless and Portable Products, plus Solutions Targeting
Drone Applications in Live Sports and Broadcast Industries

SÃO PAULO, BRAZIL, AUGUST 29, 2016 – xG Technology, Inc. (“xG” or the “Company”) business unit Integrated Microwave Technologies (“IMT”), a leader in advanced digital microwave systems serving the broadcast, sports, entertainment and law enforcement markets, is showcasing its complete range of wireless and portable products at the Videodata booth (84) at the 2016 SET Expo, the premier business and technology event for broadcast and new media in Latin America. IMT will present its range of portable applications including its microLite – Aerial Transmitter, DR3 IP Diversity Receiver, CRx6, and CIRAS-x6.

John Payne IV, president of IMT, has been invited to present at the event. His presentation will highlight the small UAS market, recent FAA drone rule changes and the impact the new set of rules will have on the use of drones on sports and broadcast productions. The presentation is scheduled for August 29^th at 4:30pm in Room 11.

“The SET Expo is the largest trade show in Latin America and a great opportunity for us to show off our latest broadcast innovations, while highlighting the benefits our products bring to this market,” says Payne. “I am excited about my presentation at SET Expo and speaking about the growing trend of drones in today’s live sports and broadcast industries.”

George Schmitt, CEO and Chairman of the Board of xG Technology, said, “IMT has staked a leadership position in powering drone applications, with their products already being used in water sports, golf and motocross live event broadcasts. Their appearance at the SET show, and being named a featured presenter, underscores the exciting global growth potential for commercial drone technologies like the IMT solution.”

Designed for UAV and drone applications, the microLite – Aerial Transmitter is a superior miniature system of wireless video transmission links designed to capture and display real-time, high-quality video back to ground applications. It is lightweight, weighing less than 4.2oz. Its reliability does not suffer from foliage and other common non line-of-sight limitations of uncompressed solutions. Unlike alternative solutions, IMT’s COFDM technology ensures the transmission of uninterrupted, live TV pictures over long ranges, despite challenging terrain, buildings and other limitations. In addition, the microLite is able to operate at low levels of latency — down to 100ms — making it ideal for remote control applications. This makes the microLite – Aerial the product of choice when broadcast quality, exceptional range and reliability are required.

The DR3 is a third-generation diversity receiver incorporating all the best features of the company’s popular DR1 and DR2, along with a host of exciting new features that set it apart from any other receivers on the market. Perfect for the most demanding central receive and portable applications, it is the first receiver to offer built-in IP diversity receiver switching. Designed to work with IMT’s new High Dynamic Range Block Down Converters (HDRBDC) that automatically compensate for cable loss, up to eight receivers can be daisy-chained to share the same set of antennas and converters.

The CRx6 is a COFDM (DVB-T compliant) six-way diversity receiver that offers exceptional RF performance and IP56-rated environmental durability for external use. It accepts the input from external antennas, without problematic block-down converters, and streams directly over an IP network to a DR3 or networked decoder. The CRx6 optionally features the ability to receive up to four RF channels simultaneously. When used in conjunction with IMT’s DR3 diversity receiver, users can pair multiple CRx6 receivers together, expanding coverage seamlessly across a wide geographic area.

The CIRAS-x6 is a ruggedized COFDM (DVB-T compliant) six-way diversity receiver integrated into a six-segment antenna pod. It delivers 360 degree coverage without any mechanical tracking, exceptional RF performance and IP66-rated environmental durability for external use. The CIRAS-x6 system is designed to automatically optimize the receive signal at all times, and virtually eliminate all human intervention.

Videodata is a leading Brazilian systems integrator and equipment supplier for the TV broadcast, pay TV, telecommunications, internet and government markets.

About xG Technology, Inc.

Founded in 2002, xG Technology has created a broad portfolio of intellectual property that enables always-available, always-connected and always-secure voice, broadband data and video communications. The company is the developer of xMax, a patented all-IP software-defined cognitive radio network that delivers mission-assured wireless connectivity in any RF environment. xMax provides a solution to the challenges of interoperability, survivability and flexibility in expeditionary and critical communications networks. xMax can be deployed as fixed or mobile infrastructure to enhance and integrate seamlessly with legacy communications systems, both private and commercial. Access and priority can be controlled, and in the event of congestion, failure or denial of access to commercial networks, xMax provides a fully secure, scalable, private and highly resilient network for essential communications – all at zero bandwidth cost.

xMax incorporates advanced optimizing technologies that include spectrum sharing, interference mitigation, multiple-input multiple-output (MIMO) and software defined radio (SDR). These and other technologies make xMax ideal for wide area, as well as rapid emergency communication deployment in unpredictable environments and during fluid situations. xG offers solutions for numerous industries worldwide, including military, emergency response and public safety, telemedicine, urban and rural wireless broadband, utilities, and critical infrastructure.

xG’s Integrated Microwave Technologies (IMT) business unit further supports xG’s military and public safety customers with its mission-critical wireless video solutions. IMT is a leader in advanced digital microwave systems and a provider of engineering, integration, installation and commissioning services serving the MAG (Military, Aerospace & Government), broadcast, and sports & entertainment markets. IMT’s product lines include digital broadcast microwave video systems and compact microwave video equipment for licensed and license-free applications. More information on IMT can be found at www.imt-solutions.com.

Based in Sarasota, Florida, xG has over 100 patents and pending patent applications. xG is a publicly traded company listed on the NASDAQ Capital Market (symbol: XGTI) 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.

For More Information:

Media Relations
Daniel Carpini
xG Technology
daniel.carpini@xgtechnology.com
(941) 953-9035
Investor and Analyst Relations
James Woodyatt
xG Technology
james.woodyatt@xgtechnology.com
(954) 572-0395

The post Integrated Microwave Technologies Sizzles in Brazil at 2016 SET Expo appeared first on xG Technology.

Sarasota, Florida—September 20, 2016 — Integrated Microwave Technologies (“IMT”), an xG Technology business unit and the leader in advanced digital microwave systems serving the broadcast, sports, entertainment and law enforcement markets, announces it is showcasing the microLite family of products, including the RF Central 58microLite HD System to the house of worship (“HOW”) market at the WFX Expo 2016 (Booth 945).

“Our microLite technology presents an affordable, reliable method of wireless camera transmission without breakup or pixilation to the worship market,” says John Payne IV, president, Integrated Microwave Technologies. “We are excited to showcase our 58microLite Mini Kit, our most affordable iteration of our microLite technology, at WFX this year and invite all attendees to experience this technology for themselves.”

George Schmitt, CEO and Chairman of the Board of xG Technology, said, “The growing interest in IMT’s microLite technology by the house of worship sector underscores the broad number of applications and markets that can be positively impacted by its real-time, high quality video links.”

The 58microLite HD Mini Kit is ideal for any house of worship application that requires wireless transmission, providing the ability to capture images not only within the HOW’s walls, but also throughout the grounds as well. For those facilities that provide broadcasts or online streaming capabilities, the microLite allows a facility to provide its viewers with a greater sense that they are present. In addition, the microLite is also extremely easy to use, which is important since many HOW camera operators are volunteers, not industry professionals.

The 58microLite HD Mini Kit is a highly portable professional-grade MPEG-4 COFDM HD wireless camera transmission link capable of providing high-quality video at distances over two miles, line-of-sight (LOS). Developed for the next generation of HD capable compact cameras, the 58microLite system is available in either licensed or unlicensed bands. It provides customers with the highest quality video without breakup or pixilation. Its size, weight and performance makes it ideal for point-of-view and any type of live event coverage, including services, sermons or readings.

WFX—the Worship Facilities Conference and Expo—is the nation’s largest conference focused on the house of worship market. The two and half day event provides the ministry teams (including worship, tech, facilities and administration) from churches of all sizes and traditions hands-on education and training in new tools and technologies

About xG Technology, Inc.

Cautionary Statement Regarding Forward Looking Statements

For More Information:

Media Relations
Daniel Carpini
xG Technology
daniel.carpini@xgtechnology.com
(941) 953-9035

Investor and Analyst Relations
James Woodyatt
xG Technology
james.woodyatt@xgtechnology.com
(954) 572-0395

The post INTEGRATED MICROWAVE TECHNOLOGIES (IMT) SHOWCASES microLITE TECHNOLOGY TO WORSHIP MARKET AT THE WFX EXPO 2016 appeared first on xG Technology.

Sarasota, Florida—September 21, 2016 — xG Technology, Inc. (“xG” or the “Company”) (Nasdaq: XGTI, XGTIW), a leader in providing critical wireless communications for use in challenging operating environments, announced that its Special Meeting of Stockholders to be held on September 22, 2016 was adjourned to October 3, 2016 at 9:00 a.m. EDT at the Company’s offices at 7771 West Oakland Park Blvd., Suite 225, Sunrise, FL 33351 to allow additional time for the stockholders to vote on the proposal set forth in the Company’s proxy statement filed with the Securities and Exchange Commission (“SEC”), which is available at: www.cstproxy.com/xgtechnology/sm2016.

During the period of the adjournment, the Company will continue to solicit proxies from its stockholders with respect to the proposals set forth in the Company’s proxy statement. Proxies previously submitted in respect of the meeting will be voted at the adjourned meeting unless properly revoked.

The Company encourages all stockholders who have not yet voted to do so before October 2, 2016 at 11:59 p.m. EDT.

The beneficial stockholders who need assistance in submitting your proxy or voting your shares of our Common Stock, or need additional copies of the Proxy Statement or the enclosed proxy card, please contact Laurel Hill Advisory Group, LLC.

Laurel Hill Advisory Group, LLC
2 Robbins Lane, Suite 201, Jericho, NY 11753
(516) 933-3100

The Company’s proxy statement and any other materials filed by the Company with the SEC remain unchanged and can be obtained free of charge at the SEC’s website at www.sec.gov.

About xG Technology, Inc.

Cautionary Statement Regarding Forward Looking Statements

For More Information:

Media Relations
Daniel Carpini
xG Technology
daniel.carpini@xgtechnology.com
(941) 953-9035

Investor and Analyst Relations
James Woodyatt
xG Technology
james.woodyatt@xgtechnology.com
(954) 572-0395

The post xG TECHNOLOGY ANNOUNCES ADJOURNMENT OF SPECIAL MEETING appeared first on xG Technology.

$3.0M Award, Won in Partnership with Southwest Research Institute® (SwRI®), Underscores the Applicability of xG’s Unique Core Technology and Leverages IMT’s Digital Broadcasting Expertise

Sarasota, Florida—October 3, 2016—xG Technology, Inc. (“xG” or the “Company”) (Nasdaq: XGTI, XGTIW), a developer of robust and resilient wireless communications and spectrum sharing technologies, announced that, together with partner Southwest Research Institute® (“SwRI®”), it has received a $3.0M award issued by the Defense Information Systems Agency for Prototype Spectrum Sharing Systems for the 2025-2110 MHz Band.

xG will perform a significant portion of the project, and the award represents a significant milestone in the application of xG’s highly unique core technology to Government efforts to permit spectrum sharing between certain government and commercial applications. Government initiatives in spectrum sharing have been identified by xG as a key strategic focus.

John Coleman, President of xG’s Federal Business Unit, said, “xG’s unique knowledge and expertise in the arenas of spectrum sharing and interference mitigation, together with the Electronic News Gathering (ENG) market leadership of our business unit IMT, make us exceptionally well-positioned to deliver innovation and value in this effort as part of the Southwest Research Institute team. xG believes it can make important contributions to more efficient use of America’s valuable spectrum through spectrum sharing technologies.”

In January 2015, the U.S. government concluded an auction of the 1755-1780 MHz Federal use radio frequency spectrum to Advanced Wireless Services licensees. As part of the auction, some DOD systems are relocating operations into the 2025-2110 MHz region of the spectrum, where they will share that spectrum with ENG operations. The overall objective of this Initiative is to develop a prototype architecture and associated set of concept of operations (CONOPS) and Use Case (UC) materials for a dynamic spectrum sharing system for DOD operations transitioning into the 2025-2110 MHz band and incumbent ENG services. This prototype architecture and documentation will be used to accelerate development of the production sharing system under the DISA transition plan. It is expected that radios operating in this band in the future will adopt the innovative technologies and systems developed under the transition plan to optimize spectrum sharing and co-use.

About xG Technology, Inc.

About Southwest Research Institute (SwRI)

Southwest Research Institute (SwRI), headquartered in San Antonio, Texas, is one of the oldest and largest independent, nonprofit, applied research and development organizations in the United States. SwRI’s technical divisions offer a wide range of technical expertise and services in such areas as chemistry, space science, nondestructive evaluation, automation, engine design, mechanical engineering, electronics and more. The Institute occupies more than 1,200 acres and provides more than 2 million square feet of laboratories, test facilities, workshops and offices. In 2015, SwRI sponsored more than $7.2 million in internal research to develop innovative technologies that ultimately benefit clients.

Cautionary Statement Regarding Forward Looking Statements

For More Information:

Media Relations
Daniel Carpini
xG Technology
daniel.carpini@xgtechnology.com
(941) 953-9035

The post xG Technology Wins Spectrum Sharing Prototype Award from Defense Information Systems Agency appeared first on xG Technology.

Sarasota, Florida—October 6, 2016 — xG Technology, Inc. (“xG” or the “Company”) (Nasdaq: XGTI, XGTIW), a leader in providing critical wireless communications for use in challenging operating environments, announced that its Special Meeting of Stockholders to be held on October 7, 2016 was adjourned to October 21, 2016 at 9:00 a.m. EDT at the Company’s offices at 7771 West Oakland Park Blvd., Suite 225, Sunrise, FL 33351 due to the potential impact of impending Hurricane Matthew, and to allow additional time for the stockholders to vote on the proposal set forth in the Company’s proxy statement filed with the Securities and Exchange Commission (“SEC”), which is available at: www.cstproxy.com/xgtechnology/sm2016.

The Company encourages all stockholders who have not yet voted to do so before October 20, 2016 at 11:59 p.m. EDT.

Laurel Hill Advisory Group, LLC

2 Robbins Lane, Suite 201, Jericho, NY 11753

(516) 933-3100

The Company’s proxy statement and any other materials filed by the Company with the SEC remain unchanged and can be obtained free of charge at the SEC’s website at www.sec.gov.

About xG Technology, Inc.

Cautionary Statement Regarding Forward Looking Statements

For More Information:

Media Relations
Daniel Carpini
xG Technology
daniel.carpini@xgtechnology.com
(941) 953-9035

The post xG TECHNOLOGY ANNOUNCES ADJOURNMENT OF SPECIAL MEETING appeared first on xG Technology.

Sarasota, Florida—October 10, 2016 — xG Technology, Inc. (“xG” or the “Company”) (Nasdaq: XGTI, XGTIW), a leader in providing critical wireless communications for use in challenging operating environments, announced that it is on track to record annual cost savings exceeding $2.0M resulting from synergies realized by the acquisition of Integrated Microwave Technologies (IMT). This is above the amount forecasted in February 2016 when the acquisition was concluded, and includes cost reductions that have already been recorded as well as ones that are still coming.

Among the areas where cost reductions have been and/or will be realized since IMT became a business unit of xG are the following:

Rightsizing of staff levels to align headcount with near and mid-term realizable revenue opportunities. This has included replacing contractors used in both the xMax and IMT business units, and integrating the engineering talent of both business units to support product and technology development efforts for all product lines. This has resulted in a reduction in costs of approximately $700,000 annually;
Relocation of all manufacturing of xMax products to IMT’s facility in New Jersey, which will result in savings of up to $700,000 per year;
Downsizing the company’s Fort Lauderdale facility, resulting in savings of approximately $150,000 per year;
Efficiencies resulting from unification of the sales operations of the xMax and IMT business units under common sales management, which will provide savings of approximately $175,000 annually;
Expected continuing savings in lease and related costs as operations in New Jersey are rightsized, amounting to an additional $150,000 to $200,000 per year;
Costs reductions realized in the Company’s internal software application licensing contracts, web site development and hosting fees, and fees paid to external public relations and other contractors, resulting in savings of approximately $50,000 per year;
Significant enhancements made to the Company’s accounting processes and functions, resulting in increased efficiencies and better operational compliance.

In addition to driving cost savings, cross-training of personnel to provide integrated solutions incorporating both xMax and IMT products enables xG to identify and close on new business opportunities. The most recent example of this was the recently announced $3.0M award xG won in partnership with the Southwest Research Institute for a spectrum sharing technology prototype.

George Schmitt, CEO and Chairman of the Board of xG Technology, said, “We continue to streamline our operations consistent with the efficiencies we envisioned attaining when we acquired IMT. We are realizing significant savings in all key operational areas, including staff headcount levels, sales, manufacturing, production and technology development. We expect this trend to continue as we deliver on our goal of monetizing our technology assets and identifying new business opportunities.”

About xG Technology, Inc.

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.

For More Information:

Media Relations
Daniel Carpini
xG Technology
daniel.carpini@xgtechnology.com
(941) 953-9035

The post xG Technology On Track to Realize Across-The-Board Annual Cost Savings Above $2.OM Resulting From The Acquisition Of Integrated Microwave Technologies (IMT) appeared first on xG Technology.

System Provides Comprehensive, Fully Integrated Aircraft-to-Viewing Terminal Solution that Leverages Airborne Units to Enhance Tactical Operations

MOUNT OLIVE, NJ, OCTOBER 12, 2016 – Integrated Microwave Technology (“IMT”), a business unit of xG Technology, Inc. (“xG”) and a leader in advanced digital microwave systems serving the law enforcement, broadcast, sports and entertainment markets, announced it has received a $200,000 order from a prominent state police agency located in the Mid-Atlantic region (“the Agency”) for an Airborne Video Downlink System (“AVDS”). The system consists of video communications equipment and related services that extend the efficacy of tactical operations by leveraging police airborne units.

The IMT AVDS, which has been deployed and is currently operational, is comprised of an integrated suite of downlink transmitters, receivers and antennas that capture real-time, reliable high-definition video from helicopters and other aircraft for display at Emergency Operation Centers, mobile command units and directly to smart phones over the cellular and Wi-Fi networks.

IMT’s AVDS was procured as a replacement for a legacy system that suffered from limited range, unreliability and low video resolution. By contrast, AVDS will provide a heightened safety and security layer to the Agency’s law enforcement operations by leveraging its aerial platforms. Video transmitted by these aerial platforms provides ground-based personnel an immediate clear and reliable picture of what is being viewed from above, allowing the tactical and strategic direction of ground units using actionable intelligence in real-time.

“This order represents the latest in a number of engagements we have entered into with federal, state and local law enforcement entities seeking to enhance ground-based police operations with video intelligence captured from the air,” said John Payne IV, president of IMT. “Reliability and ease of operation—the main factors that ensure the downlink system will actually be used—are the hallmark of our AVDS. With the growing number of public safety agencies upgrading their airborne platforms, there is a need for a reliable, robust, seamless, fully integrated system to provide ground-based personnel a strategic and tactical overview of the mission. We designed the AVDS with these imperatives in mind, and we look forward to working closely with this customer to obtain maximum utility from the system.”

AVDS has been designed to support full state coverage using the following IMT equipment:

Skymaster TX – lightweight, full-featured video downlink transmitters installed with
access controllers in the police helicopters;
Multiple CIRAS-x6/2 antenna systems strategically placed around the state;
DR3 – IP Aggregator – an IP diversity aggregator that provide seamless switching and supports both central receive and portable applications;
CIRAS and Stream Viewers on command vehicles

One of the most notable features of AVDS is that the array of receivers and antennas has been specifically designed to allow each site to receive video feeds from two aircraft simultaneously.

About Integrated Microwave Technology

Integrated Microwave Technology (IMT), a business unit of xG Technology, Inc., is a leader in advanced digital microwave systems and a provider of engineering, integration, installation and commissioning services serving the broadcast, sports, entertainment and law enforcement markets. The company comprises the leading microwave brands Nucomm, RF Central and IMT, offering customers worldwide complete video solutions. Nucomm is a premium brand of digital broadcast microwave video systems. RF Central is an innovative brand of compact microwave video equipment for licensed and license-free sports and entertainment applications. IMT is a trusted provider of mission-critical wireless video solutions to state, local and federal police departments.

More information can be found at www.imt-solutions.com.

# # #

FOR MORE INFORMATION

IMT:

Matt LoDolce
Account Executive
D. Pagan Communications, Inc.
631-659-2309
mattl@dpagan.com
www.dpagan.com

xG Technology:

Daniel Carpini
941-953-9035
daniel.carpini@xgtechnology.com
www.xgtechnology.com

The post INTEGRATED MICROWAVE TECHNOLOGY (IMT) RECEIVES $200,000 ORDER FOR AIRBORNE VIDEO DOWNLINK SYSTEM (AVDS) FROM PROMINENT MID-ATLANTIC STATE POLICE AGENCY appeared first on xG Technology.

MOUNT OLIVE, NJ, OCTOBER 13, 2016 – Integrated Microwave Technologies (“IMT”), a business unit of xG Technology, Inc. (“xG”) and a leader in advanced digital microwave systems serving the law enforcement, broadcast, sports and entertainment markets, announced it has received a $500,000 order from a leading robotic defense contractor for wireless video transmission modules for use in military remote ordnance disposal applications.

One of the key advantages of the IMT solution is the ability to deliver a customized robotic integration that enables high-data rate video links in UGV (Unmanned Ground Vehicle) systems.

“The selection of IMT to supply video transmission technology for this critical application affirms our commitment to meeting demanding defense and law enforcement requirements,” said John Payne IV, president of IMT. “We were able to offer a compelling solution that delivers reliable video across extended ranges, while utilizing a highly compact size, weight and power (SWaP) format designed to operate in the most challenging environments. We are proud that our technology will help keep our warfighters and first responders out of harm’s way as they fulfill their important missions.”

About Integrated Microwave Technologies, LLC

Integrated Microwave Technologies (IMT), a business unit of xG Technology, Inc., is a leader in advanced digital microwave systems and a provider of engineering, integration, installation and commissioning services serving the broadcast, sports, entertainment and law enforcement markets. The company comprises the leading microwave brands Nucomm, RF Central and IMT, offering customers worldwide complete video solutions. Nucomm is a premium brand of digital broadcast microwave video systems. RF Central is an innovative brand of compact microwave video equipment for licensed and license-free sports and entertainment applications. IMT is a trusted provider of mission-critical wireless video solutions to state, local and federal police departments.

More information can be found at www.imt-solutions.com.

# # #

FOR MORE INFORMATION

Daniel Carpini
941-953-9035
daniel.carpini@xgtechnology.com
www.xgtechnology.com

The post INTEGRATED MICROWAVE TECHNOLOGIES (IMT) RECEIVES $500,000 ORDER FOR WIRELESS VIDEO TRANSMISSION MODULES FOR MILITARY ROBOTICS APPLICATION appeared first on xG Technology.

Sarasota, Florida—October 20, 2016—xG Technology, Inc. (“xG” or “the Company”) (Nasdaq: XGTI, XGTIW), a leader in providing critical wireless communications for use in challenging operating environments, announced today that it has entered into a binding agreement to acquire the assets of the Vislink Communication Systems (“Vislink”) division from Hungerford, United Kingdom-based Vislink, Plc. The purchase is expected to close by year-end 2016. xG had previously entered into a letter of intent (“LOI”) with Vislink Plc, and is now pleased to announce its binding agreement to acquire Vislink.

Vislink Communication Systems, which has a present year sales run rate that is expected to be between $45M-$50M, specializes in the wireless capture, delivery and management of secure, high-quality, live video from the field to the point of usage, or “from scene to screen.” Vislink delivers global solutions comprising hardware and related services to two core markets: broadcast & media and public safety & surveillance. In the broadcast & media market, Vislink provides broadcast communication links for the collection of live news, sport and entertainment events. In the public safety and surveillance markets, Vislink provides secure video communications and mission-critical solutions for law enforcement, defense and homeland security applications.

Roger Branton, CFO and Co-founder of xG Technology, said, “We believe that Vislink chose to sell the division to a purchaser that would operate the business as a going concern, versus financial acquirers. We further believe that the combined business will create a market leader in video technology providing scale and global reach. Considering the inherent synergies with our business unit Integrated Microwave Technologies, we believe the fair value of the ongoing business and assets far exceeds the purchase price.”

About xG Technology, Inc.

Cautionary Statement Regarding Forward Looking Statements

For More Information:

Daniel Carpini
xG Technology
daniel.carpini@xgtechnology.com
(941) 953-9035

The post xG Technology Announces $16 Million Binding Agreement to Acquire Vislink Communication Systems appeared first on xG Technology.

MOUNT OLIVE, NJ, NOVEMBER 4, 2016 – Integrated Microwave Technologies (“IMT”), a business unit of xG Technology, Inc. (“xG”) (Nasdaq: XGTI, XGTIW), and a leader in advanced digital microwave systems serving the law enforcement, broadcast, sports and entertainment markets, introduces its new Nulinx-IP Flex point-to-point hybrid IP/ASI microwave radio.

“In support of the FCC Broadcast Spectrum Repack, IMT is excited to offer the Nulinx-IP Flex,” says John Payne IV, president of IMT. “The Nulinx-IP Flex supports todays ATSC 1.0 requirements as well as forward-looking ATSC 3.0 IP transport requirements.”

The Nulinx-IP Flex is a point-to-point bi-directional microwave link that brings the high reliability and scalability of carrier-grade microwave to broadcasters. The Nulinx-IP supports data rates as high as 600 Mbps in a 30 MHz Part 101 channel using a single set of antennas, and as high as 1200 Mbps using MIMO technology. It operates with as little as 75 MHz transmit/receive frequency spacing and can use traditional Part 74 (BAS) and Part 101 (Fixed Microwave Service) microwave channels. Available as an all-indoor or split system on any licensed or unlicensed band from 5.8 through 42 GHz, IMT’s Nulinx-IP Flex has the flexibility and expandability to grow with the user’s needs.

John Payne IV added, “With the transition occurring in the broadcast industry from ASI to IP, the Nulinx-IP Flex provides a scalable solution for broadcasters to make the IP conversion seamlessly and effortlessly. The Nulinx-IP enables customers to buy only what they need and then selectively upgrade features when they need to, because many features are software key enabled. Additional bandwidth can be added later as needed.”

As auxiliary spectrum becomes increasingly scarce, making maximum use of available channel space is essential. The Nulinx-IP Flex offers adaptive modulation constellations up to 2048 QAM, so more bits move in the same amount of spectrum. Adaptive modulation nearly eliminates outages when atmospheric conditions, such as heavy rain, do not support the highest data rates. Advanced Quality of Service (QoS) controls ensure that essential program traffic continues to flow. Header deduplication and other built-in data compression techniques offer greater throughput in the same spectrum space.

The Nulinx-IP Flex consists of a 1 RU RF tray that holds the two complete transceivers and a 1 RU modem shelf. Legacy ASI traffic is supported through a transparent ASI to IP encap and decap that requires no PID remapping. Up to four ASI streams may be transported in each direction, making this ideal for STL/TSL/ICR requirements.

About Integrated Microwave Technologies
Integrated Microwave Technologies (IMT), a business unit of xG Technology, Inc., is a leader in advanced digital microwave systems and a provider of engineering, integration, installation and commissioning services serving the broadcast, sports, entertainment and law enforcement markets. The company comprises the leading microwave brands Nucomm, RF Central and IMT, offering customers worldwide complete video solutions. Nucomm is a premium brand of digital broadcast microwave video systems. RF Central is an innovative brand of compact microwave video equipment for licensed and license-free sports and entertainment applications. IMT is a trusted provider of mission-critical wireless video solutions to state, local and federal police departments.

More information can be found at www.imt-solutions.com.

# # #

Cautionary Statement Regarding Forward Looking Statements

FOR MORE INFORMATION

Daniel Carpini
941-953-9035
daniel.carpini@xgtechnology.com
www.xgtechnology.com

The post INTEGRATED MICROWAVE TECHNOLOGIES (IMT) BRIDGES THE GAP BETWEEN ATSC 1.0 and ATSC 3.0 WITH NULINX-IP FLEX appeared first on xG Technology.

Nulinx-IP and 58microLite HD Mini Kit to be Displayed

NEW YORK, NOVEMBER 7, 2016 – Integrated Microwave Technologies (“IMT”), a business unit of xG Technology, Inc. (“xG”) (Nasdaq: XGTI, XGTIW), and a leader in advanced digital microwave systems serving the law enforcement, broadcast, sports and entertainment markets, will be highlighting its new Nulinx-IP line of point-to-point hybrid IP/ASI microwave radios and 58microLite HD Mini Kit at NAB New York 2016 (Booth 1650).

“We are particularly excited to showcase our newest offerings to the broadcast market at NAB New York,” says John Payne IV, president of IMT. “In support of the FCC Broadcast Spectrum Repack and introduction of ATSC 3.0, IMT is excited to show its Nulinx-IP product line. Additionally, many broadcasters have embraced IMT’s microLite technology to improve operational efficiency for remote news broadcasts.”

The Nulinx-IP is a point-to-point bi-directional microwave link that brings the high reliability and scalability of carrier-grade microwave to broadcasters. The Nulinx-IP supports data rates as high as 600 Mbps in a 30 MHz Part 101 channel using a single set of antennas, and as high as 1200 Mbps using MIMO technology. It operates with as little as 75 MHz transmit/receive frequency spacing and can use traditional Part 74 (BAS) and Part 101 (Fixed Microwave Service) microwave channels. Available as an all-indoor or split system on any licensed or unlicensed band from 5.8 through 42 GHz, IMT’s Nulinx-IP has the flexibility and expandability to grow with the user’s needs.

As auxiliary spectrum becomes increasingly scarce, making maximum use of available channel space is essential. The Nulinx-IP offers adaptive modulation constellations up to 2048 QAM, so more bits move in the same amount of spectrum. Adaptive modulation nearly eliminates outages when atmospheric conditions, such as heavy rain, do not support the highest data rates. Advanced Quality of Service (QoS) controls ensure that essential program traffic continues to flow. Header deduplication and other built-in data compression techniques offer greater throughput in the same spectrum space.

Created to improve operational efficiencies for daily news applications, the 58microLite HD Mini Kit is a highly portable professional-grade HD wireless camera link capable of providing high-quality video at distances over two miles, line-of-sight (LOS). This latest version of the microLite system is the perfect accessory to any remote news production with its reduced deployment time and improved agility.

At the heart of the 58microLite HD Mini Kit is the microLite HD Transmitter. The 58microLite kit also features a dual-diversity COFDM receiver that uses maximal-ratio combining technology to enable the system to support LOS as well as non-line-of-sight (NLOS) applications. It comes in an ultra-small, self-contained package perfect for discrete installations. The 58microLite HD Mini Kit comes in three camera mounting versions: the standard hot-shoe and optional Anton/Bauer Gold Mount or V-Mount.

More information can be found at www.imt-solutions.com and 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.

FOR MORE INFORMATION:

xG Technology:

Daniel Carpini
941-953-9035
daniel.carpini@xgtechnology.com
www.xgtechnology.com

The post INTEGRATED MICROWAVE TECHNOLOGIES (IMT) FEATURES NEWEST BROADCAST PRODUCTS AT NAB NEW YORK 2016 appeared first on xG Technology.

Sarasota, Florida—November 14, 2016 —xG Technology, Inc. (“xG” or the “Company”) (Nasdaq: XGTI, XGTIW), a leader in providing critical wireless communications for use in challenging operating environments, announced its results for the third quarter ended September 30, 2016. Management will hold a conference call to discuss these results on November 15, 2016 at 5:00 p.m. Eastern Time (details below).

Key Recent Accomplishments

The Company announced a $16 million binding agreement to acquire Vislink Communication Systems. The purchase is expected to close by year-end 2016. Vislink, which has a present year sales run rate that is expected to be between $45 million and $50 million, specializes in the wireless capture, delivery and management of secure, high-quality, live video from the field to the point of usage.
The Company received a $3.0 million award in partnership with Southwest Research Institute® (“SwRI”) issued by the Defense Information Systems Agency for Prototype Spectrum Sharing Systems for the 2025-2110 MHz frequency band. The award underscores the applicability of xG’s unique core technology and leverages IMT’s digital broadcasting expertise.
xG business unit Integrated Microwave Technologies (“IMT”) received a $500,000 order from a leading robotic defense contractor for wireless video transmission modules for use in military remote ordnance disposal applications.
IMT received a $200,000 order from a prominent state police agency located in the Mid-Atlantic region for an Airborne Video Downlink System (“AVDS”). The system consists of video communications equipment and related services that extend the efficacy of tactical operations by leveraging police airborne units.
The Company announced it is on track to record annual cost savings exceeding $2.0 million resulting from synergies realized by the acquisition of IMT. This is above the amount forecasted in February 2016 when the acquisition was concluded, and includes cost reductions that have already been recorded as well as ones that are to come.

George Schmitt, CEO and Chairman of the Board of xG Technology, said, “We are pleased to report making forward progress in our operations, particularly our efforts to hold our costs in line as we ramped up revenues. We are seeing contributions from both the xMax and IMT sides of our business lines, and we expect that to continue through ongoing opportunities that leverage the strength of our expanded technology solutions.”

Mr. Schmitt continued, “We expect that the proposed acquisition of Vislink will deliver tremendous synergies with xG’s xMax and IMT business units in a several areas, including satellite communications-based solutions, highly configurable software-based development platforms, and antenna design and manufacturing. Subject to our closing on the Vislink acquisition, we expect to see our overall revenues range around $75 million next year, allowing for some fluctuation due to currency exchange rates. If we achieve that, we expect to record positive EBITDA in the range of $10 million to $15 million, cash flow in the range of $5 million to $10 million, and positive net income for the year, excluding one-time financing and other non-recurring costs. This will be driven by the cost-cutting that has already occurred, the synergies to be realized from this acquisition, and strong traction we are seeing in the marketplace for our products.”

Review of Results

Revenues for the three and nine months ended September 30, 2016, were $1,913,000 and $4,497,000, respectively, representing an increase of $1,724,000 and $3,351,000, respectively, from $189,000 and $1,146,000 in the corresponding periods in 2015. The revenue of $1,913,000 resulted from $1,851,000 from sales of equipment and $62,000 from engineering services for the three months ended September 30, 2016, which can be attributed to the acquisition of IMT. The revenue of $4,497,000 resulted from $4,339,000 from sales of equipment and $158,000 from engineering services during the nine months ended September 30, 2016. Of the $4,497,000 in revenue, $154,000 was previously recorded as deferred revenue.

For the three and nine months ended September 30, 2016, the Company had a net loss of $3.1 million and $11.8 million, respectively, compared to a net loss of $3.1 million and $10.6 million for the three and nine months ended September 30, 2015, respectively, an increase of $1.2 million from the corresponding nine month period a year ago. The increase in net loss is due to an increase in amortization and depreciation, general and administrative, and research and development expenses, largely due to the acquisition of IMT.

xG ended third quarter 2016 with $1.8 million in cash compared to $368,000 at December 31, 2015.

Financial Results Conference Call Details

xG management will hold a conference call to discuss xG’s Q3 2016 results on November 15, 2016 at 5:00 p.m. Eastern Time. To participate in the conference call, please call 888-317-6003 (toll free) or 1-412-317-6061 (international call-in). The Elite Entry number, 5496882, will be required to join the conference call. The call will also be simultaneously webcast via a link available at http://www.xgtechnology.com/about-xg-technology/investor-information/. For those who cannot participate in the call, an audio replay will be made available on xG’s website.

About xG Technology, Inc.

Founded in 2002, xG Technology has developed technologies that enable always-available, always-connected and always-secure voice, broadband data and video communications. The company’s brand portfolio includes xMax and Integrated Microwave Technologies (IMT).

xMax is a patented all-IP, software-defined cognitive radio network that delivers mission-assured wireless connectivity in any RF environment. It provides a solution to the challenges of interoperability, survivability and flexibility in expeditionary and critical communications networks. xMax incorporates advanced optimizing technologies that include spectrum sharing, interference mitigation, multiple-input multiple-output (MIMO) and software defined radio (SDR), making it ideal for wide area, as well as rapid emergency communication deployment in unpredictable environments and during fluid situations. xMax offers solutions for numerous industries worldwide, including military, emergency response and public safety, telemedicine and critical infrastructure.

IMT is a leading provider of mission-critical video solutions, advanced digital microwave systems and engineering, integration, installation and commissioning services serving the Broadcast, Sports & Entertainment and MAG (Military, Aerospace & Government) markets. Since its inception, IMT has focused on building a product portfolio that incorporates a high level of performance, reliability and build quality, extended operating ranges and compact form factors. IMT’s product lines include digital broadcast microwave video systems, compact microwave video equipment for licensed and license-free sports and entertainment applications, and wireless video solutions designed for use by state, local and federal police departments. More information on IMT can be found at www.imt-solutions.com.

Cautionary Statement Regarding Forward Looking Statements

For More Information:

Daniel Carpini
xG Technology
daniel.carpini@xgtechnology.com
(941) 953-9035

xG TECHNOLOGY, INC. AND SUBSIDIARY
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(IN THOUSANDS EXCEPT NET LOSS PER SHARE DATA)

	For the Three Months Ended						For the Nine Months Ended
	September 30,						September 30,
	2016			2015			2016			2015
Revenue	$	1,913		$	189		$	4,497		$	1,146
Cost of revenue and operating expenses
Cost of components and personnel		970			114			2,210			689
Inventory valuation adjustments		80			—			192			—
General and administrative expenses		2,260			1,924			6,671			5,591
Research and development expenses		1,424			995			4,627			3,655
Amortization and depreciation		1,254			958			4,118			2,876
Total cost of revenue and operating expenses		5,988			3,991			17,818			12,811
Loss from operations		(4,075	)		(3,802	)		(13,321	)		(11,665	)
Other income (expense)
Changes in fair value of derivative liabilities		2,566			1,103			1,305			1,567
Offering expenses (See Note 8)		(526	)		—			(684	)		—
Gain on bargain purchase		—			—			2,749			—
Other expense		(924	)		—			(981	)		—
Interest expense, net		(147	)		(362	)		(818	)		(457	)
Total other income (expense)		969			741			1,571			1,110
Net loss	$	(3,106	)	$	(3,061	)	$	(11,750	)	$	(10,555	)
Preferred stock dividends and deemed dividends		—			—			(1,808	)		(3,079	)
Net loss attributable to common shareholders	$	(3,106	)	$	(3,061	)	$	(13,558	)	$	(13,634	)
Basic and diluted net loss per share	$	(0.20	)	$	(5.04	)	$	(1.69	)	$	(33.01	)
Weighted average number of shares outstanding basic and diluted		15,702			607			8,018			413

xG TECHNOLOGY, INC. AND SUBSIDIARY
CONDENSED CONSOLIDATED BALANCE SHEETS
(IN THOUSANDS EXCEPT SHARE AND PER SHARE DATA)

	September 30, 2016 (unaudited)			December 31, 2015
ASSETS
Current assets
Cash	$	1,832		$	368
Accounts receivable, net of allowance of $197 and $87 ($117 and $138 from related party, respectively)		1,667			641
Inventories, net		3,042			777
Prepaid expenses and other current assets		76			15
Total current assets		6,617			1,801
Inventories, net		2,078			2,078
Property and equipment, net		1,166			792
Intangible assets, net		9,603			11,903
Total assets	$	19,464		$	16,574
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities
Accounts payable	$	1,836		$	1,196
Accrued expenses		1,688			252
Accrued interest ($77 and $56 due to related party)		164			137
Due to related parties		27			324
Deferred revenue and customer deposits		215			149
Deferred rent		47			—
Convertible notes payable		—			781
Obligation under capital leases		54			54
Derivative liabilities		2,423			1,284
Total current liabilities		6,454			4,177
Long-term obligation under capital leases, net of current portion		67			106
Convertible note payable		2,000			2,000
Total liabilities		8,521			6,283
Series B convertible preferred stock – $0.00001 par value per share: 5,000,000 and 0 shares authorized at September 30, 2016 and December 31, 2015; 0 and 0 issued and outstanding as of September 30, 2016 and December 31, 2015		—			—
Total convertible preferred stock		—			—
Stockholders’ equity
Series D convertible preferred stock – $0.00001 par value per share: 5,000,000 shares authorized; 2,000,000 and 0 issued and outstanding as of September 30, 2016 and December 31, 2015, respectively		—			—
Common stock – $0.00001 par value, 100,000,000 shares authorized, 19,283,473 and 1,685,642 shares issued and 19,283,454 and 1,685,623 outstanding as of September 30, 2016 and December 31, 2015, respectively		—			—
Additional paid in capital		211,112			198,710
Treasury stock, at cost – 19 shares at September 30, 2016 and December 31, 2015, respectively		(22	)		(22	)
Accumulated deficit		(200,147	)		(188,397	)
Total stockholders’ equity		10,943			10,291
Total liabilities and stockholders’ equity	$	19,464		$	16,574

The post xG Technology Reports Third Quarter 2016 Results and Conference Call appeared first on xG Technology.

Integrated System Provides Airborne Tactical Insights to Ground Operations in Support of
State Law Enforcement Investigations and Surveillance Missions

MOUNT OLIVE, NJ, DECEMBER 8, 2016 – xG Technology, Inc. (“xG”) (Nasdaq: XGTI, XGTIW) business unit Integrated Microwave Technology (“IMT”), a leader in advanced digital microwave systems serving the law enforcement, broadcast, sports and entertainment markets, announced it has received a $450,000 order from a state investigation bureau located in the South Atlantic region (“the Bureau”) for the IMT Airborne Video Downlink System (“AVDS”). The system consists of an integrated suite of downlink transmitters, receivers and antennas that will be used to capture and transmit real-time, reliable high-definition video from fixed-wing aircraft for display at command centers, mobile receivers and on video management systems.

The Bureau recently acquired a new fixed-wing aircraft and determined that the IMT AVDS would be perfect to enhance its capabilities for carrying out law enforcement investigations and surveillance missions. The AVDS is known for its ability to deliver clear and stable video from extended ranges and aerial platforms.

Products featured in the AVDS include:
• Skymaster TX — a lightweight, full-featured video downlink transmitters installed with
Access RC controllers in the aircraft;
• Multiple CIRAS-x6 antenna systems installed in strategic locations;
• CIRAS and Stream Viewers on command vehicles;
• VNS-1000, IP video distribution server.

“This order solidifies IMT’s leadership as the premier choice of law enforcement agencies for supplying real-time, reliable, high-definition video capture and distribution solutions,” says John Payne IV, president of IMT. “Maintaining situational awareness is a critical aspect of law enforcement operations and the AVDS was designed to support ground personnel by providing an enhanced perspective on events from the air as they occur. We look forward to working with this new client to ensure they obtain the key tactical insights they require for their missions.”

About Integrated Microwave Technology

Integrated Microwave Technology (IMT), a business unit of xG Technology, Inc., is a leader in advanced digital microwave systems and a provider of engineering, integration, installation and commissioning services serving the broadcast, sports, entertainment and law enforcement markets. The company comprises the leading microwave brands Nucomm, RF Central and IMT, offering customers worldwide complete video solutions. Nucomm is a premium brand of digital broadcast microwave video systems. RF Central is an innovative brand of compact microwave video equipment for licensed and license-free sports and entertainment applications. IMT is a trusted provider of mission-critical wireless video solutions to state, local and federal police departments. More information can be found at www.imt-solutions.com.

Cautionary Statement Regarding Forward Looking Statements

FOR MORE INFORMATION

Daniel Carpini
941-953-9035
daniel.carpini@xgtechnology.com
www.xgtechnology.com

The post INTEGRATED MICROWAVE TECHNOLOGY (IMT) RECEIVES $450,000 ORDER FOR DOWNLINK SYSTEM FROM SOUTH ATLANTIC STATE INVESTIGATION BUREAU appeared first on xG Technology.

Sarasota, Florida—December 15, 2016—xG Technology, Inc. (“xG” or the “Company”) (Nasdaq: XGTI, XGTIW), a leader in providing critical wireless communications for use in challenging operating environments, announced that a 1-for-10 reverse split (the “Reverse Stock Split”) of its common stock (the “Common Stock”) became effective as of the close of business on Thursday, December 15, 2016, and the Common Stock will begin trading on a split-adjusted basis on Friday, December 16, 2016.

In connection with the Reverse Stock Split, the CUSIP number for the Common Stock has been changed to 98372A 705.

Information to Stockholders

Continental Stock Transfer & Trust Company is acting as exchange agent for the Reverse Stock Split and will send instructions to stockholders of record who hold stock certificates regarding the exchange of certificates for Common Stock. Stockholders who hold their shares of Common Stock in brokerage accounts or “street name” are not required to take any action to effect the exchange of their shares following the Reverse Stock Split. Continental Stock Transfer & Trust Company may be reached for questions at (212) 509-4000.

More information on the Reverse Stock Split can be found in xG’s Form 8-K, which was filed with the Securities and Exchange Commission on December 15, 2016. Additional information on xG’s Reverse Stock Split will be available beginning on or about December 16, 2016 in “Frequently Asked Questions (December 2016)” on the Company’s website at http://www.xgtechnology.com/about-xg-technology/investor-information/.

About xG Technology, Inc.

Cautionary Statement Regarding Forward Looking Statements

For More Information:

Media Relations
Daniel Carpini
xG Technology
daniel.carpini@xgtechnology.com
(941) 953-9035

The post xG Technology, Inc. Announces 1-for-10 Reverse Stock Split Now Effective appeared first on xG Technology.

Sarasota, Florida—December 19, 2016—xG Technology, Inc. (“xG”) (Nasdaq: XGTI, XGTIW), a leader in providing critical wireless communications for use in challenging operating environments, is pleased to announce that it has signed the final definitive business purchase agreement to acquire Vislink Communication Systems (“Vislink”) from Vislink, Plc. All substantive terms of the acquisition, which was originally announced on Oct. 20, 2016, have been agreed upon by the respective parties and due diligence has been completed. The agreement is subject to Vislink shareholder approval, and funding of the acquisition is expected to be finalized thereafter.

The Vislink acquisition gives xG a market-leading position in delivering end-to-end video capture/transmit/receive solutions to broadcast, sports and entertainment, and mission-critical public safety and defense sectors worldwide. The integration of Vislink will add significant revenue to xG’s overall operations and offer the opportunity to realize numerous synergies with its IMT business unit. At present, there is comparatively little overlap between IMT and Vislink in the areas of product offerings, sales channels, and market coverage, which increases the potential for new and expanded business wins for both companies.

George Schmitt, CEO and Board Chairman of xG Technology, said, “The Vislink acquisition represents a transformational step for xG Technology, and we believe it will help xG realize overall revenues of at least $60 million in 2017. There are impressive sales, technology, and manufacturing synergies between Vislink and IMT which will be realized as we integrate the operations in 2017. In addition to providing us a position of market prominence in delivering customized video technology systems, this acquisition offers new opportunities to incorporate xG’s patented interference mitigation and spectrum sharing technologies. Finally, we would like to welcome our new colleagues from Vislink into our company.”

Roger Branton, CFO of xG Technology, said, “The Vislink deal, which builds upon our prior purchase of IMT, underscores our plan to effect strategic acquisitions that further the Company’s long-term growth objectives. In the same way that we were successful in achieving efficiencies in all our business operating areas after acquiring IMT, we expect the Vislink acquisition to result in significant cost savings once it is fully integrated.”

“The xG Technology brand and business unit IMT are leaders in communication and digital microwave systems serving the Broadcast, Sports & Entertainment and MAG (Military, Aerospace & Government) markets. We are very excited to become part of the xG Technology family,” said James Walton, CEO of Vislink Communication Systems. “The product and technology synergies between Vislink and IMT will create a formidable alliance and further strengthen and expand our solutions for secure, high-quality video capture and delivery. I am confident that this transaction will significantly increase the global foothold of our market leading wireless camera and satellite communications systems. Collaboratively, Vislink Communication Systems and IMT will develop new marketing channels, strengthen innovative technology integration, and enrichen our global depth of innovative solutions within broadcast and law enforcement markets.”

About xG Technology, Inc.

For More Information:

Daniel Carpini
xG Technology
daniel.carpini@xgtechnology.com
(941) 953-9035

The post xG Technology Signs Final Definitive Business Purchase Agreement to Acquire Vislink Communication Systems appeared first on xG Technology.

Sarasota, Florida—December 21, 2016—xG Technology, Inc. (“xG”) (Nasdaq: XGTI), a leader in providing critical wireless communications for use in challenging operating environments, today announced the pricing of an underwritten public offering with expected total gross proceeds of approximately $10,000,000 before deducting underwriting discounts and commissions and other offering expenses payable by the Company. The securities offered by the Company consist of 3,800,000 Class A Units, with each Class A Unit consisting of one share of the Company’s common stock and one immediately exercisable five-year warrant to purchase one and one quarter share of common stock with a warrant exercise price of $2.00, and 2,400 Class B Units, with each Class B Unit consisting of one share of the Company’s Series E Convertible Preferred Stock with a stated value of $1,000 and convertible into shares of the Company’s common stock at $2.00 per share and immediately exercisable five-year warrants to purchase one and one quarter shares of common stock for each share of common stock into which the Series E Convertible Preferred Stock is convertible, with a warrant exercise price of $2.00. The Class A Units were priced at $2.00. The Class B Units were priced at $1,000. The underwriters have been granted a 45-day option to purchase up to an aggregate of an additional 15% of the securities sold in the offering to cover over-allotments, if any. The offering is expected to close on or about December 27, 2016, subject to customary closing conditions. xG’s common stock is listed on the NASDAQ Capital Market under the symbol “XGTI”. The net proceeds of the offering will be used to fund a portion of xG’s previously announced acquisition of Vislink Communications Systems or, if the acquisition is not consummated, for general corporate purposes.

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

A registration statement relating to these securities has been filed with the Securities and Exchange Commission (the “SEC”) and was declared effective on December 20, 2016. This offering is being made only by means of a preliminary prospectus previously filed with the SEC which is available on the SEC’s website located at http://www.sec.gov. A final prospectus describing the terms of the offering will be filed with the SEC and will be available on the SEC’s website located at http://www.sec.gov.

This press release does not constitute an offer to sell or a 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. Any offer, if at all, will be made only by means of a preliminary prospectus and final prospectus forming a part of the effective registration statement. Copies of the preliminary prospectus and final prospectus relating to this offering may be obtained, when available, from Aegis Capital Corp., Prospectus Department, 810 Seventh Avenue, 18th Floor, New York, NY, 10019, telephone: 212-813-1010 or email: prospectus@aegiscap.com.

About xG Technology, Inc.

Cautionary Statement Regarding Forward Looking Statements

For More Information:

Daniel Carpini
xG Technology
daniel.carpini@xgtechnology.com
(941) 953-9035

The post XG TECHNOLOGY PRICES $10,000,000 PUBLIC OFFERING appeared first on xG Technology.

Sarasota, Florida—December 27, 2016— xG Technology, Inc. (“xG” or the “Company”) (Nasdaq: XGTI), a leader in providing critical wireless communications for use in challenging operating environments, announced today that it has closed the previously announced public underwritten offering of securities, with gross proceeds of $10,000,000 before deducting underwriting discounts and commissions and other offering expenses payable by the Company.

The Company sold to the underwriters an aggregate of 3,800,000 Class A Units, with each Class A Unit consisting of one share of the Company’s common stock and one and one quarter immediately exercisable five-year warrant, each whole warrant to purchase one share of common stock with a warrant exercise price of $2.00, and 2,400 Class B Units, with each Class B Unit consisting of one share of the Company’s Series E Convertible Preferred Stock with a stated value of $1,000 and convertible into 500 shares of the Company’s common stock at $2.00 per share, together with a immediately exercisable five-year warrants to purchase 625 shares of common stock, with a warrant exercise price of $2.00. The Class A Units were priced at $2.00. The Class B Units were priced at $1,000. The Company also granted the underwriters a 45-day option to purchase up to an aggregate of an additional 15% of the securities sold in the offering to cover over-allotments, if any.

The Company plans to use the net proceeds of the offering, after deducting underwriting discounts and commissions and other offering expenses payable by the Company, to fund a portion of its previously announced acquisition of Vislink Communications Systems or, if the acquisition is not consummated, for general corporate purposes.

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

The securities described above were offered by xG pursuant to a registration statement filed with the Securities and Exchange Commission (the “SEC”) that was declared effective on December 20, 2016. The final prospectus relating to the offering was filed with the SEC on December 22, 2016. The registration statement and final prospectus are available on the SEC’s website located at http://www.sec.gov.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein, 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.

About xG Technology, Inc.

Cautionary Statement Regarding Forward Looking Statements

For More Information:

Daniel Carpini
xG Technology
daniel.carpini@xgtechnology.com
(941) 953-9035

The post xG Technology, Inc. Closes $10,000,000 Public Offering appeared first on xG Technology.

Sarasota, Florida—December 29, 2016— xG Technology, Inc. (“xG” or the “Company”) (Nasdaq: XGTI, XGTIW), a leader in providing critical wireless communications for use in challenging operating environments, announced today that the closing on the previously-announced acquisition of Vislink Communication Systems (“Vislink”) has been scheduled for January 9, 2017. This will coincide with Vislink’s general meeting and shareholder vote on the acquisition agreement that will take place the same day.

xG Technology originally announced the Vislink acquisition on Oct. 20, 2016, and announced the signing of the final definitive business purchase agreement on Dec. 19, 2016.

About xG Technology, Inc.

Cautionary Statement Regarding Forward Looking Statements

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.

For More Information:

Daniel Carpini
xG Technology
daniel.carpini@xgtechnology.com
(941) 953-9035

The post xG Technology, Inc. Announces Closing Date on Vislink Acquisition appeared first on xG Technology.

Sarasota, Florida—January 10, 2017— xG Technology, Inc. (“xG” or the “Company”) (Nasdaq: XGTI, XGTIW), a leader in providing critical wireless communications for use in challenging operating environments, announced today that the Company has regained full compliance with all listing requirements of the Nasdaq Stock Market (“Nasdaq”).

In a letter received from the Listing Qualifications Department of Nasdaq on January 9, 2017, the Company was informed that it has regained compliance with the bid price and rights/warrants rules, as required by the Panel’s decision dated November 21, 2016, and is in compliance with other applicable requirements as set forth in the decision and required for listing on The Nasdaq Capital Market. Accordingly, the Panel has determined to continue the listing of the Company’s securities on The Nasdaq Stock Market and is closing this matter.

About xG Technology, Inc.

Cautionary Statement Regarding Forward Looking Statements

For More Information:

Daniel Carpini
xG Technology
daniel.carpini@xgtechnology.com
(941) 953-9035

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Sarasota, Florida—January 13, 2017— xG Technology, Inc. (“xG” or the “Company”) (Nasdaq: XGTI, XGTIW), a leader in providing critical wireless communications for use in challenging operating environments, announced today that xG and Vislink, Plc have closed on the acquisition of Vislink Communication Systems and established a formal transition date of the business which is February 2, 2017. The mutually agreed upon transition date allows for Vislink shareholders to approve amendments to the existing agreements executed on December 16, 2016.

Given that Vislink shareholders approved the transaction nearly unanimously on January 9^th, 2017, the Company anticipates approval of the amendments to be a formality.

George Schmitt, Executive Chairman and CEO of xG Technology, said, “We are excited to conclude this final step in the Vislink acquisition, and have begun the process of integrating our operational teams across all our business lines. We appreciate the ongoing efforts of our counterparts at Vislink, Plc to ensure a smooth transition of the business.”

About xG Technology, Inc.

Cautionary Statement Regarding Forward Looking Statements

For More Information:

Daniel Carpini
xG Technology
daniel.carpini@xgtechnology.com
(941) 953-9035

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