ViewRay stock offering gross tops $80 million after underwriters exercise purchase options

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A recent stock offering from Oakwood Village-based ViewRay Inc. (Nasdaq: VRAY), maker of the MRIdian radiation therapy system, got a little more lucrative.

The company said in a news release on Tuesday, Nov. 23, that underwriters exercised in full the option to buy an additional 1.875 million shares of common stock following ViewRay’s just-completed public offering of 12.5 million shares. The additional gross proceeds were $10.5 million, which means total gross proceeds from the offering now are $80.5 million.

All shares sold in the offering were sold by ViewRay, which said it intends to use the net proceeds from the offering for “general corporate purposes, including working capital, capital expenditures, continued research and development and commercial expenses.”

Piper Sandler and Stifel acted as the joint book-running managers for the offering. Guggenheim Securities also acted as a book-running manager for the offering. B. Riley Securities and BTIG acted as co-managers for the offering.

ViewRay stock was trading at 12:15 p.m. Tuesday at $5.40 per share, down about 3.5% from Monday’s close. The stock’s 52-week range is $3.54 per share to $8.25 per share.