SonoSite Inc.
This article was originally published in The Gray Sheet
Executive Summary
Maker of hand-held digital ultrasound systems expects to gross $31.25 mil. from a private placement of 1.25 mil. shares of common stock to selected institutional and other accredited investors under definitive agreements announced Nov. 10. Proceeds are tabbed for expanding commercialization of the SonoSite 180 and SonoHeart ultrasound systems, as well as increased investment in working capital. Prudential Vector Healthcare Group served as placement agent for the financing. Bothel, Washington-based SonoSite will have approximately $60 mil. in cash upon completion of the transaction