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.
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