ANDOVER, Mass.--(Business Wire)--MEMSIC, Inc. (NasdaqGM: MEMS) 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.
A registration statement relating to these securities was declared
effective by the Securities and Exchange Commission on December 13,
2007. This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of these
securities, in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
The offering of the securities is made only by means of a
prospectus. A copy of the final prospectus relating to the IPO may be
obtained from Citigroup Global Markets Inc., Brooklyn Army Terminal,
Attn: Prospectus Delivery Department, 140 58th Street, Brooklyn, New
York 11220, phone: 718-765-6732.
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.
ICR, Inc.
Garo Toomajanian, 978-738-0900 ext. 240
ir@memsic.com
Copyright Business Wire 2007
