MEMSIC IPO raises $60 million

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.

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