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Financings In Brief

This article was originally published in The Gray Sheet

Executive Summary

SonoSite: Handheld digital ultrasound device manufacturer plans secondary offering of 2.7 mil. shares of common stock. Assuming a public offering price of $22.95 per share, estimated net proceeds would be about $57.8 mil., according to a Feb. 22 prospectus filed with the Securities and Exchange Commission. The funds will be used for general corporate purposes, which may include expanded sales and marketing efforts for the SonoSite 180Plus and SonoHeart Elite ultrasound devices, as well as expanded manufacturing, R&D and potential acquisitions, SonoSite says. The Bothell, Washington firm has granted managing underwriters UBS Warburg and Deutsche Banc Alex. Brown the option to purchase an additional 405,000 shares to cover any over allotments, which could boost net proceeds to $66.5 mil., according to SonoSite...
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