ViewRay, Inc. announced that it expects to receive $26.1 million in funding from Alta Bioequities, Longwood Capital Partners, LLC, OrbiMed Advisors, L.L.C., Kearny Venture Partners, Puissance Capital Management Lp, and other investors
January 13, 2017
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ViewRay, Inc. (NasdaqGM:VRAY) announced that it has entered into a securities purchase agreement for a private placement of 8,602,589 common shares for gross proceeds of $26,100,000 on January 13, 2017. The company will also issue 1,720,512 warrants at a price of $0.125 per warrant for gross proceeds of $215,064. The purchase price for each common share is $3, except that the purchase price paid by directors and/or officers of the company is $3.17. The warrants are exercisable at an exercise price of $3.17 per share. The transaction included participation from new investors including Puissance Cross Border Opportunities I LP, a fund managed by Puissance Capital Management Lp, will subscribe 6,842,975 shares and warrants 1,368,595 for $20,699,999.38, Acuta Opportunity Fund, LP, Longwood Capital, LP, a fund managed by Longwood Capital Partners, LLC will subscribe 561,983 shares and 112,396 warrants for $1,699,998.51 and Alta Bioequities, and existing investors, including entities associated with OrbiMed Advisors, L.L.C. and Kearny Venture Partners, L.P. JMSK LTD, AJAY BANSAL, Mark S. Gold and Henry A. McKinnell, will subscribe 312,989 shares and 62,597 warrants for $999,999.76 Jr. independent members of the company’s board of directors; and Ajay Bansal, an executive officer of the company. The closing of the transaction expects to occur on January 18, 2017. The transaction is exempt from registration pursuant to the exemption for transactions by an issuer not involving any public offering under Section 4(a)(2) the Securities Act of 1933, as amended and Regulation S and Regulation D under the Securities Act.
ViewRay, Inc. is engaged in designing, manufacturing, and marketing the MRIdian MRI-Guided Radiation Therapy System. The MRIdian MR-Guided Radiation Therapy System integrates diagnostic MR imaging with radiation therapy delivery to enable on-table adaptive treatments with real-time tissue tracking and automatic beam gating. The MRIdian is comprised of three components, namely magnetic resonance imaging (MRI) system, radiation delivery system, and integrated treatment planning and delivery software. MRIdian employs MRI-based technology to provide real-time imaging that targets tumors from the surrounding soft tissue and other critical organs, both before and during radiation treatment delivery. MRIdian offers MR-guided imaging that provides tissue visualization compared to cone-beam computed tomography (CBCT), to enable contouring and reduced margins. The Company has installed approximately 56 MRIdian systems at hospitals, which are used to treat a variety of solid tumors.
ViewRay, Inc. announced that it expects to receive $26.1 million in funding from Alta Bioequities, Longwood Capital Partners, LLC, OrbiMed Advisors, L.L.C., Kearny Venture Partners, Puissance Capital Management Lp, and other investors