ViewRay (VRAY) Stock Smacked 7% on Share Offering

ViewRay, Inc. (Nasdaq: VRAY) shares were trading 7% lower after-hours Tuesday after the company made an announcement, according to which it has commenced an underwritten public offering of its common stock, with underwriters expected to be granted a 30-day option to purchase up to an additional 15% of the number of shares of common stock.

The net proceeds from the offering, where Piper Sandler and Stifel act as the joint book-running managers, are expected to be used for general corporate purposes, including working capital, capital expenditures, continued research and development and commercial expenses.

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