By Shira Ovide
InvenSense, which makes motion sensors for consumer electronics, delayed a planned IPO back in August, when bouncing stock markets conspired to spike many IPOs. Now, InvenSense is back, but the delay cost the company dearly.
Last night, InvenSense sold 10 million shares to the public for the first time, at $7.50 a pop. Back this summer, InvenSense initially planned to sell 10.5 million shares at $8.50 to $10.50 each. So instead of raising up to $110 million as planned before markets went haywire, InvenSense is pocketing $75 million — or about 32% less money into the company’s coffers.
Shares of InvenSense