Article: Ion Optics Oversubscribed in First Round of Funding.

Business Editors

WALTHAM, Mass.--(BUSINESS WIRE)--Jan. 11, 2001

Ion Optics, Inc. took the next step in commercializing its optical technology platform by closing its first round of private placement financing. The company raised $1.4 million to support prototype development of Ion Optics' optical-based gas sensor made on silicon wafers utilizing MEMS (microelectromechanical systems) technology. The funding round was significantly oversubscribed. Fechtor, Detwiler and Co., Inc. of Boston acted as Ion Optics' investment banker and financial adviser in this private placement. Lead investors include Ardesta, LLC (formerly MEMS Tech) of Ann Arbor, Michigan ...

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