Wireless firm splits stock

SARASOTA — Wireless communications provider xG Technology Inc. implemented a 1-for-12 reverse split of its common stock, the company announced after hours June 20.

xG's stock began trading at its split-adjusted rate on Tuesday, a statement says. As of market open on June 21, the company's stock (symbol: XGTI) was trading at $1.65 per share.

Founded in 2002, xG Technology has more than 100 patents and patent-pending applications. It's the developer of xMax, a cognitive radio network for secure mobile broadband communications.