SonoSite (NASDAQ: [[ticker: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.
Author: Luke Timmerman
Luke is an award-winning journalist specializing in life sciences. He has served as national biotechnology editor for Xconomy and national biotechnology reporter for Bloomberg News. Luke got started covering life sciences at The Seattle Times, where he was the lead reporter on an investigation of doctors who leaked confidential information about clinical trials to investors. The story won the Scripps Howard National Journalism Award and several other national prizes. Luke holds a bachelor’s degree in journalism from the University of Wisconsin-Madison, and during the 2005-2006 academic year, he was a Knight Science Journalism Fellow at MIT.
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