IPOs, Semiconductors, MEMS

Memsic Drops IPO Price, Opens Flat

Robert Buderi 12/14/07

Andover, MA-based Memsic (NASDAQ: MEMS), a maker of sensors using micro electro-mechanical systems, or MEMS, had a lackluster debut this morning in its first day of trading. The firm had previously set the terms of its IPO at between $11 and $13 per share, but was forced to downgrade that yesterday to $10 per share. As of late morning it was up 10 cents, at $10.10.