MEMSIC Prices Initial Public Offering
ANDOVER, Mass.--(BUSINESS WIRE)--MEMSIC, Inc. (NasdaqGM: MEMS - News) today announced the pricing of its initial public offering of 6,000,000 shares of its common stock at $10 per share (before underwriting discounts and commissions). The shares are scheduled to begin trading on the NASDAQ Global Market on December 14, 2007 under the trading symbol "MEMS." The Company has granted the underwriters a 30-day option to purchase up to an additional 900,000 shares at the initial public offering price to cover over-allotments, if any.
Citigroup Global Markets Inc. acted as sole book-running manager for the offering, and Jefferies and Company, Needham & Company, LLC, and Thomas Weisel Partners, LLC acted as co-managers for the transaction.
About MEMSIC
Headquartered in Andover, Massachusetts, MEMSIC, Inc. provides advanced semiconductor sensor and system solutions based on integrated micro electromechanical systems, or MEMS, technology and mixed signal circuit design. Its accelerometer products are used to measure tilt, shock, vibration and acceleration, and have a wide range of applications such as mobile phones, automotive safety systems and video projectors. MEMSIC combines proprietary thermal-based MEMS technology and advanced analog mixed signal processing circuitry design into a single chip using a standard complementary metal-oxide semiconductor, or CMOS, process. For further information, please visit www.memsic.com.
