ViewRay, Inc. (OTCQB: VRAY) announced its successful completion of a reverse merger with ViewRay Technologies, Inc. The combined entity will focus solely on the business of ViewRay, the makers of MRIdian™, the world’s first and only MRI-guided radiation therapy system that images and treats cancer patients simultaneously. ViewRay will trade on the OTC Markets under the symbol “VRAY.”
ViewRay also announced today that it has consummated a private placement with gross proceeds of approximately $26.7 million for the issuance and sale of 5,340,704 shares of its common stock. Proceeds from the private placement will be used to support the ongoing commercialization of MRIdian™, for research and development related to continued product development activities, and for general corporate purposes, including working capital. Xeraya Capital participated in the private placement together with current investors Aisling Capital, Fidelity, Kearny Venture Partners, Montrose Capital and OrbiMed.
Further details on this link: http://phx.corporate-ir.net/phoenix.zhtml?c=253882&p=irol-newsArticle&ID=2070749.
