CLEVELAND, Dec. 6, 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 the completion of its previously
announced underwritten public offering of 47,782,500 shares of
common stock at a price to the public of $3.13 per share, for gross proceeds of
approximately $149.6 million, before
deducting underwriting discounts and commissions and estimated
offering expenses payable by ViewRay. All of the shares sold
in the offering were sold by ViewRay. The shares sold included the
full exercise of the underwriters' option to purchase additional
shares.
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.
Elekta AB (Nasdaq: EKTA-B.ST), an affiliate of Medtronic (NYSE:
MDT) and an affiliate of ViewRay's largest shareholder, Fosun
International Limited, each consummated their previously-announced
investments in ViewRay by participating in the offering.
Piper Jaffray & Co. acted as
the lead bookrunner. Guggenheim Securities, LLC also acted as a
bookrunner. Oppenheimer & Co. Inc. acted as co-manager for the
offering.
A registration statement relating to these securities has been
filed with the U.S. Securities and Exchange Commission ("SEC") and
became effective on February 7, 2019.
This offering was made solely by means of a prospectus
supplement and accompanying prospectus included in the registration
statement. A final prospectus supplement and accompanying
prospectus relating to the offering was filed with the SEC and is
available on the SEC's website located at http://www.sec.gov.
Alternatively, copies of the final prospectus supplement and
the accompanying prospectus may be obtained by contacting
Piper Jaffray & Co., Attention:
Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, MN 55402, or 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.
Forward Looking Statements:
Except for historical information, certain statements in this
press release, including statements regarding the anticipated use
of proceeds of the public offering, 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. 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 final prospectus
supplement filed with the SEC on December 5,
2019, 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
other reports filed with the SEC.
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SOURCE ViewRay, Inc.