CLEVELAND, Dec. 4, 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 pricing of an underwritten
public offering of 41,550,000 shares of common stock at a price to
the public of $3.13 per share, for
gross proceeds of approximately $130.1
million, before deducting underwriting discounts and
commissions and estimated offering expenses payable by ViewRay.
All of the shares to be sold in the offering will be offered
by ViewRay. In addition, ViewRay has granted the underwriters of
the offering a 30-day option to purchase up to an additional
6,232,500 shares of common stock at the public offering price, less
underwriting discounts and commissions.
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
The offering is expected to close on or about December 6, 2019, subject to satisfaction of
customary closing conditions.
Elekta AB (Nasdaq: EKTA-B.ST), an affiliate of Medtronic (NYSE:
MDT) and an affiliate of ViewRay's largest shareholder, Fosun
International Limited, will each be consummating their
previously-announced investments in ViewRay by participating in
Piper Jaffray & Co. is acting
as the lead bookrunner. Guggenheim Securities, LLC is also acting
as a bookrunner. Oppenheimer & Co. Inc. is acting 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 is being 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 will be filed with the SEC and
will be available on the SEC's website located at
http://www.sec.gov. Alternatively, copies of the final
prospectus supplement, when available, and the accompanying
prospectus may be obtained by contacting Piper Jaffray & Co., Attention: Prospectus
Department, 800 Nicollet Mall, J12S03, Minneapolis, MN55402, or by telephone at (800)
747-3924, or by email at firstname.lastname@example.org.
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 completion and
the anticipated use of proceeds of the public offering, as well as
ViewRay's expectations regarding the completion of its proposed
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
and the satisfaction of closing conditions related to the 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 filed with the SEC on
December 2, 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.