In the offering, the Cleveland-based company floated approximately 16.2 million shares of common stock at $9.25 per share, bringing in $150 million gross before offering-related payments.
The offering also included 30-day underwriter’s option to purchase an additional 2.4 million shares at the same price, which was fully executed, lifting the total raised in the round to $172.5 million.
ViewRay said it plans to use funds raised to support working capital and general corporate purposes, including R&D, clinical trials, capital expenditures and infrastructure expenses, according to a press release.
Morgan Stanley and Jefferies acted as joint book-runners for the offering, alongside Guggenheim Securities. Cantor Fitzgerald & Co, Mizuho Securities, Northland Capital Markets and B. Riley FBR acted as co-managers.
Late last month, ViewRay said that it tapped former Spectranetics head Scott Drake as its new chief executive officer and former Spectranetics COO Shar Matin as its new COO.