On December 6, 2019 ViewRay, Inc. (Nasdaq: VRAY), maker of the MRIdian, which combines MRI and external-beam radiation therapy to simultaneously image and treat cancer patients, reported 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 (Press release, ViewRay, DEC 6, 2019, View Source [SID1234552009]). 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.

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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.