- xG Technology (XGTI) chairman/CEO George Schmitt has agreed to convert $500K worth of existing loans due to him from the company into shares at a price of $0.56 ($0.01 above Friday's close). He has also "indicated his intention to purchase modest quantities of additional shares of xG common stock from time to time through open market transactions."
- Other loans from xG to Schmitt remain outstanding. The transaction stands to increase xG's share count by ~893K shares. The company had 4.5M shares outstanding at the end of Q2.
- xG rose 7.3% in regular trading to $0.59.