SonoSite Announces Final Results of Its Tender Offer
February 25 2010 - 6:00AM
Business Wire
SonoSite, Inc. (Nasdaq:SONO), the world leader and
specialist in hand-carried ultrasound for the point-of-care, today
announced the final results of its modified “Dutch Auction” tender
offer which expired at 5:00 p.m. New York City time on
February 19, 2010.
Based on the final count by the depositary, an aggregate of
2,960,350 shares of common stock were properly tendered and not
withdrawn at prices at or below $30.00. Accordingly, pursuant to
the terms of the Offer to Purchase, the Letter of Transmittal and
applicable securities laws, SonoSite has accepted for purchase
2,960,350 shares of its common stock at a purchase price of $30.00
per share. These shares represent approximately 16.9% of the shares
outstanding as of February 24, 2010. With the completion of
the tender offer, SonoSite will have approximately 14,509,464
shares of common stock outstanding. The aggregate purchase price
that will be paid by SonoSite in connection with the tender offer
is $88,810,500, excluding transaction costs.
The depositary will promptly pay for the shares accepted for
purchase.
The tender offer was made pursuant to an Offer to Purchase and
Letter of Transmittal, each dated January 19, 2010, filed with
the Securities and Exchange Commission on January 19, 2010, as
amended on January 28, 2010, February 16, 2010 and
February 22, 2010.
The Dealer Manager for the tender offer was J.P. Morgan
Securities, Inc. and the Information Agent was Georgeson Inc.
Subject to applicable law, upon the completion of ten business
days after the expiration of the tender offer, SonoSite may
purchase additional shares of its common stock pursuant to the
previously announced repurchase authorization by the SonoSite Board
of Directors.
All questions regarding the tender offer may be directed to
Georgeson Inc. by telephone at (800) 509-0976 (toll-free) or in
writing to Georgeson Inc., 199 Water Street, 26th Floor, New York,
NY 10038-3560.
About SonoSite
SonoSite, Inc. (www.sonosite.com) is the innovator and world
leader in hand-carried ultrasound. Headquartered near Seattle, the
company is represented by ten subsidiaries and a global
distribution network in over 100 countries. SonoSite’s small,
lightweight systems are expanding the use of ultrasound across the
clinical spectrum by cost-effectively bringing high-performance
ultrasound to the point of patient care.
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