December 27, 2007 — MEMSIC Inc., an Andover, Mass., company that develops MEMS technology for sensors and accelerometers, has raised $60 million in its recent IPO in a transaction that values the firm at $226 million.
The company, listed on Nasdaq under the ticker symbol MEMS, sold 6 million shares at $10 per share.
Citigroup is lead manager in the offering.