xG Technology, Inc. (NASDAQ:XGTI) Files An 8-K Other Events

Item 8.01 Other Events.

On February 14, 2017, xG Technology, Inc. (the Company) closed
its previously announced offering of its securities (the
Offering). The Company sold to Aegis Capital Corp., as
underwriter, 1,750,000 shares of the Companys common stock (the
Common Stock), par value $0.00001 per share, and warrants to
purchase up to an aggregate of 1,312,500 shares of Common Stock.
The Company received $3,500,000 in gross proceeds from the
Offering, before deducting the underwriting discount and
estimated Offering expenses payable by the Company. A copy of the
press release announcing the closing of the Offering is attached
hereto as Exhibit 99.1 and is incorporated herein by reference.

Item9.01 Financial Statements and Exhibits.

About xG Technology, Inc. (NASDAQ:XGTI)

xG Technology, Inc. develops a portfolio of intellectual property, which is embedded in its software algorithms that offer cognitive interference mitigation and spectrum access solutions for a range of applications using commercial off the shelf devices. The Company’s products include xMax, CN5100 Mobile Hotspot, CN3100 Vehicle Modem, CN3200 Dual-Band Routing Modem, CN1100 Access Point, CN7000 Mobile Control Center and xMonitor/xDrive. The Company offers a range of frequency-agnostic cognitive radio solutions. It focuses on various industries across the world, such as telecommunications, cable, defense and public safety, municipal governments, critical infrastructure and markets ranging from rural to urban areas and expeditionary deployments. The implementation of its cognitive radio intellectual property is xMax. The Company, through Integrated Microwave Technologies, LLC (IMT), offers a spectrum of wireless video products that are built around providing a range of solutions.

xG Technology, Inc. (NASDAQ:XGTI) Recent Trading Information

xG Technology, Inc. (NASDAQ:XGTI) closed its last trading session up +0.01 at 1.78 with 1,367,130 shares trading hands.