Shearman & Sterling represented Roth Capital Partners, LLC as Book-Running Manager in connection with the public offering of Class A Units and Class B Units of xG Technology, Inc. (“xG”).

xG has developed a broad portfolio of innovative intellectual property to enhance wireless communications. Its intellectual property is embedded in proprietary software algorithms that offer cognitive interference mitigation and spectrum access solutions for wi-fi enabled devices. xG recently released commercially available versions of software and hardware products using its proprietary xMax® cognitive radio technology.

xG offered 2,550,000 Class A Units, each consisting of one share of common stock and one-half of a Series A Warrant to purchase one share of common stock, at a price of $1.00 per Class A Unit. xG offered 2,450,000 Class B Units, each consisting of one pre-funded Series B Warrant to purchase one share of common stock and one-half of a Series A Warrant to purchase one share of common stock, at a price of $0.99 per Class B Unit. Purchasers of these Units also received Series C Warrants and Series D Warrants to purchase additional Class A Units and Class B Units, respectively. The proceeds of the offering will be used for general corporate purposes, including working capital, product development, partial reduction of liabilities, marketing and further developing sales channels.

The Shearman & Sterling team included partner Chris Forrester (Menlo Park-Capital Markets) and associates Jesse Cuevas, Antonio Herrera Cuevas (both San Francisco-Capital Markets), Jennifer Morton, Jenny Ding (both New York-Financial Institutions Advisory & Financial Regulatory) and Yi Han Goh (New York-Capital Markets).

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