Compact-ultrasound developer SonoSite of Bothell, WA, has completed a stock buyback it proposed in January.
The proposal expired February 19. Three million shares of common stock were tendered at prices at or below $30, according to SonoSite. The shares represent approximately 17% of the company's outstanding shares as of February 24; with the completion of the tender offer, SonoSite will have approximately 14.5 million shares of common stock outstanding.
SonoSite will pay $89 million for the stock, excluding transaction costs, the company said.
Related Reading
SonoSite plans stock buyback, January 11, 2010
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
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