Irvine Sensors Sells $8.5 Million in Stock

Irvine Sensors Corp. said Wednesday that it raised $8.5 million in a private offering of 1.3 million shares of common stock. The Costa Mesa company makes chip stacks--multiple chips placed atop each other to make computer parts fit into tiny electronic packages. Irvine Sensors said it will use the money for expansion of long-term product development. Bailey & Co. of Toronto assisted the company in the transaction.