ViewRay said today that it reeled in a debt round worth $50 million from CRG for its MRIdian MRI-guided radiation therapy device, a few months after scrapping an initial public offering that would have fetched $52 million at the midpoint. The debt funding, from healthcare investment firm CRG, consists of an initial $30 million, 3-year, interest-only debt […]
ViewRay yesterday became the latest medical device company to scrap an initial public offering, withdrawing a flotation that would have raised $52 million for its MRI-guided radiation therapy technology.
ViewRay postponed its initial public offering with which it planned to raise $52 million for its MRI-guided radiation therapy technology, Renaissance Capital reported.
Oakwood Village, Ohio-based ViewRay had planned to float 4 million shares at $12 to $14 apiece.
ViewRay today set the terms for its pending initial public offering, saying it plans to float 4 million shares at $12 to $14 apiece.
At the midpoint of the range, the MRI-guided radiation therapy maker’s IPO would fetch $52 million.
ViewRay last week said it plans to raise up to $69 million in an initial public offering for its MRIdian system, which it bills as "the 1st and only MRI-guided radiation therapy system that images and treats cancer patients simultaneously."
Ohio-based ViewRay Inc. is looked to widen its global commercial reach with new funds raised from both new and existing investors.
ViewRay touted $30 million in new funding that the privately held company plans to use to market its ViewRay MRI-guided radiation therapy system around the world.
ViewRay Inc. has $2.4 million to go to reach its goal for a $17.4 million funding round.
Seven investors are in on the offering, and $15 million had been sold at the time the company disclosed the funding round May 8, according to a regulatory filing.