News | Radiation Therapy | August 17, 2015

ViewRay Completes Alternative Public Offering Raises $26.7 Million

Company raises $26.7 million to support further innovation and commercialization of MRI-guided radiation therapy system

ViewRay, alternative public offering, VRAY, commercialization, innovation, MRIdian, MRI-guided radiation therapy

August 17, 2015 — ViewRay Inc. announced in late July its successful completion of a reverse merger with ViewRay Technologies Inc. The combined entity will focus solely on the business of ViewRay, the makers of MRIdian, the world's first and only commercial magnetic resonance image (MRI)-guided radiation therapy system that images and treats cancer patients simultaneously. ViewRay will trade on the OTC Markets under the symbol "VRAY."

ViewRay also announced that it has consummated a private placement with gross proceeds of approximately $26.7 million for the issuance and sale of 5,340,704 shares of its common stock. Proceeds from the private placement will be used to support the ongoing commercialization of MRIdian for research and development related to continued product development activities, and for general corporate purposes, including working capital. Investors in the private placement included Aisling Capital, Fidelity, Kearny Venture Partners, Montrose Capital, OrbiMed and Xeraya Capital. 

Combined with other recent transactions, the company has achieved an approximate total of $76.7 million in financing, according to ViewRay CEO Chris Raanes.  

In connection with the private placement, ViewRay has agreed, subject to certain terms and conditions, to file a registration statement under the Securities Act of 1933, as amended, covering the resale of the shares of common stock issued in the reverse merger and the private placement and in connection with the exercise of warrants issued to the placement agents, within 90 days after the closing. The shares of common stock issued or to be issued pursuant to the merger, the private placement and the placement agent warrants have not been registered under the Securities Act of 1933, as amended, or state securities laws and may not be offered or sold in the United States absent registration with the Securities and Exchange Commission or an applicable exemption from the registration requirements.

For more information: www.viewray.com

Related Content

Sponsored Content | Videos | Radiation Therapy | November 15, 2017
Chris Toth, president, Oncology Systems Americas, takes a tour of Varian’s new product introductions and major initia
Study Unveils Brain Changes During Extended Space Missions
News | Neuro Imaging | November 14, 2017
November 14, 2017 — More people today are poised to explore space than ever before; those who do will experience the
Synthetic CT Images Suitable for Prostate Cancer Radiotherapy Planning
News | Treatment Planning | November 14, 2017
Spectronic Medical announced that new data for their MRIPlanner software, generating synthetic computed tomography (sCT...
News | Magnetic Resonance Imaging (MRI) | November 13, 2017
Aspect Imaging announced last week that it received CE marking for the neonatal-dedicated Embrace Neonatal Magnetic...
Hitachi Healthcare Highlights Benefits of High-Field Open MRI in New Supplement

Click here to view the supplement.

News | Magnetic Resonance Imaging (MRI) | November 13, 2017
A new 24-page publication from Hitachi Healthcare details the benefits of High-Field Open MRI and is now available for...
Siemens Healthineers Introduces Share360 Tailored Service Portfolio
News | Imaging | November 10, 2017
November 10, 2017 — To address the specific needs of...
Johns Hopkins Researchers, Carestream Give Presentations on Medical Imaging Advances at RSNA
News | Digital Radiography (DR) | November 09, 2017
November 9, 2017 — Researchers from The Johns Hopkins University School of Medicine and Carestream Health scientists
ASTRO: CMS Report on Radiation Therapy Payment Model Charts Path to Value-Based Cancer Care
News | Radiation Therapy | November 08, 2017
The American Society for Radiation Oncology (ASTRO) called on the Centers for Medicare and Medicaid Services (CMS) to...
3D CT image reconstruction of the thoracic organs and the heart using Philips software.
Sponsored Content | Webinar | Advanced Visualization | November 07, 2017
The CME webinar “Innovation and Success in 3D-inspired Development of the Business and Clinical Practice,” will take
U.S. Recognizes Radiologic Technologists Nov. 5-11
News | Imaging | November 06, 2017
November 6, 2017 — During National Radiologic Technology Week (NRTW) every November, hospitals, healthcare centers an
Overlay Init