CLEVELAND, Dec. 2, 2019 /PRNewswire/ -- ViewRay, Inc.
(Nasdaq: VRAY), maker of the MRIdian, which combines MRI and
external-beam radiation therapy to simultaneously image and treat
cancer patients, today announced that it has commenced an
underwritten public offering of $75.0
million of shares of its common stock. In addition,
ViewRay expects to grant the underwriters a 30-day option to
purchase up to an additional $11.25
million of shares of common stock at the public offering
price, less the underwriting discounts and commissions. All
of the shares of common stock to be sold in the offering will be
offered by ViewRay. The offering is subject to market and
other conditions, and there can be no assurance as to whether or
when the offering may be completed, or as to the actual size or
terms of the offering.
ViewRay intends to use the net proceeds from the offering for
working capital and general corporate purposes, including capital
expenditures, research and development expenses, investments,
commercial expenses, clinical data generation costs and
infrastructure expenses.
Piper Jaffray & Co. is acting
as the sole book-running manager for the offering.
The common stock will be offered and sold pursuant to an
effective shelf registration statement on Form S-3 (File No.
333-229145) filed by ViewRay with the Securities and Exchange
Commission ("SEC") and only by means of a prospectus supplement and
accompanying prospectus included in the registration statement.
A preliminary prospectus supplement related to the offering
will be filed with the SEC. Prospective investors should read
the preliminary prospectus supplement, when available, and the
accompanying prospectus and other documents ViewRay has filed with
the SEC for more complete information about ViewRay and the
offering. These documents are available at no charge by
visiting the SEC's website at http://www.sec.gov.
Alternatively, copies of the preliminary prospectus
supplement, when available, and the accompanying prospectus may be
obtained by contacting Piper Jaffray & Co., Attention:
Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, MN 55402, by telephone at (800)
747-3924, or by email at prospectus@pjc.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification of these securities under the securities laws of any
such state or jurisdiction.
About ViewRay
ViewRay®, Inc. (Nasdaq: VRAY) designs,
manufactures, and markets the MRIdian® radiation therapy system.
MRIdian is built upon a proprietary high-definition MR imaging
system designed from the ground up to address the unique challenges
and clinical workflow for advanced radiation oncology. Unlike MR
systems used in diagnostic radiology, MRIdian's high-definition MR
was purposely built to deliver high-precision radiation without
unnecessary beam distortion, and consequently, help to mitigate
skin toxicity and other safety concerns that may otherwise arise
when high magnetic fields interact with radiation beams.
Forward Looking Statements:
Except for historical information, certain statements in this
press release, including statements regarding completion, timing,
size and use of proceeds of the proposed public offering, as well
as ViewRay's expectations regarding the completion, timing and size
of its proposed public offering, its expectations with respect to
granting the underwriters a 30-day option to purchase additional
shares and the anticipated use of proceeds therefrom, are
forward-looking in nature and are subject to risks, uncertainties
and assumptions about us, including, without limitation, risks and
uncertainties related to market conditions and the satisfaction of
closing conditions related to the proposed public offering.
Such forward-looking statements involve substantial risks and
uncertainties that relate to future events and the actual results
could differ significantly from those expressed or implied by the
forward-looking statements. Any forward-looking statements
are based on ViewRay's current expectations, estimates and
assumptions regarding future events and are applicable only as of
the dates of such statements. ViewRay makes no commitment to
revise or update any forward-looking statements in order to reflect
events or circumstances that may change. For a further
description of the risks and uncertainties that could cause actual
results to differ from those expressed in these forward-looking
statements, as well as risks relating to ViewRay's business in
general, please refer to the "Risk Factors" sections in ViewRay's
preliminary prospectus supplement to be filed with the SEC,
including the documents incorporated by reference therein, its
Annual Report on Form 10-K filed with the SEC on March 15, 2019, its Quarterly Reports on Form
10-Q filed with the SEC on May 3,
2019, August 8, 2019, and
November 12, 2019 and certain of its
periodic reports filed with the SEC.
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SOURCE ViewRay, Inc.