Image-guided radiation therapy vendor ViewRay expects to raise approximately $50 million in gross proceeds from a public offering of its common stock this week.
The firm said it will sell 10.3 million shares of common stock to the public at a price of $4.85 per share. Subject to customary closing conditions, the offering is expected to close on or about January 7. ViewRay has also granted the offering's underwriters a 30-day option to purchase an additional 1.5 million shares of common stock at the public offering price, less underwriting discounts and commissions.
Net proceeds from the offering will be used for general corporate purposes, including working capital, capital expenditures, continued research and development, and commercial expenses, according to the firm.
