Stock News in Focus: ViewRay (NASDAQ:VRAY)

On Wednesday ViewRay (NASDAQ:VRAY)  stock plunged -8.11% and closed at 4.08. The stock opened the session at $4.38 and touched its highest price point at $4.41. Its recent trading capacity is 19328518 shares versus to its average trading volume of 2247498 shares. The company’s stock’s lowest price point for the session stood at $3.97. VRAY traded as low as $ 2.12 in the past 52 weeks, and shares hit its peak level to $9.76.

On Dec. 04, 2019, ViewRay (NASDAQ:VRAY) maker of the MRIdian, which combines MRI and external-beam radiation therapy to simultaneously image and treat cancer patients, declared the pricing of an underwritten public offering of 41,550,000 shares of common stock at a price to the public of $3.13 per share, for gross proceeds of approximately $130.1 million, before deducting underwriting discounts and commissions and estimated offering expenses payable by ViewRay.  All of the shares to be sold in the offering will be offered by ViewRay. In addition, ViewRay has granted the underwriters of the offering a 30-day option to purchase up to an additional 6,232,500 shares of common stock at the public offering price, less underwriting discounts and commissions.

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.

The offering is expected to close on or about December 6, 2019, subject to satisfaction of customary closing conditions.

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