SonoSite plans stock buyback

AuntMinnie.com staff writers

Jan 10, 2010

Compact-ultrasound developer SonoSite said that it plans to purchase up to $100 million of its common stock in a modified Dutch auction.

Under the terms of the proposed tender offer, SonoSite shareholders will be able to tender some or all of their shares at a price within the range of $26.10 to $30 per share. Based on the number of shares tendered and the prices specified by the tendering shareholders, the Bothell, WA-based firm will determine the lowest per-share price within the range that will enable it to buy $100 million in shares, or such lesser number of shares that are properly tendered.

The offer is expected to begin during the week of January 18, SonoSite said.

Related Reading

SonoSite posts slide in 2009 revenue, January 6, 2010

SonoSite expands iPhone app, November 10, 2009

SonoSite revenues, profits fall in Q3, October 28, 2009

GE, SonoSite settle patent lawsuit, October 19, 2009

SonoSite to debut NanoMaxx at ASA, October 16, 2009

Copyright © 2010 AuntMinnie.com

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