SonoSite Plans $100M Stock Buyback
Luke Timmerman1/11/10
SonoSite (NASDAQ: SONO), the Bothell, WA-based developer of portable ultrasound machines, said today it is planning to use $100 million of cash to buy back some of its outstanding stock through an auction process starting next week. Shareholders will have an opportunity to tender their shares at prices between $26.10 and $30 a share, the company said. JP Morgan Securities is managing the offering.
Luke Timmerman is the National Biotech Editor of Xconomy, and the Editor of Xconomy Seattle. E-mail him at ltimmerman@xconomy.com or follow him on Twitter at twitter.com/ldtimmerman.
