Brief: Viewray® Files Voluntary Chapter 11 Petitions

Viewray

17/07/2023 12:09

July 17 (Reuters) - ViewRay Inc  VRAY.O :
    * VIEWRAY® FILES VOLUNTARY CHAPTER 11 PETITIONS
    * VIEWRAY INC- DEBTOR-IN-POSSESSION FINANCING SECURED TO
SUPPORT
ONGOING OPERATIONS AND CHAPTER 11 PROCESS
    * VIEWRAY INC- INTENDS TO PURSUE A SALE OF ITS BUSINESS
UNDER
SECTION 363 OF BANKRUPTCY CODE, INCLUDING A SALE OF ALL OR A
PORTION OF COMPANY'S ASSETS,
    * VIEWRAY INC- RECEIVED A COMMITMENT OF APPROXIMATELY $6
MILLION
IN DEBTOR-IN-POSSESSION FINANCING FROM MIDCAP FINANCIAL
SERVICES, LLC.
    * VIEWRAY INC - APPOINTED PAUL ZIEGLER AS CHIEF EXECUTIVE
OFFICER
OF COMPANY, EFFECTIVE JULY 15
    * VIEWRAY INC- IS STRATEGICALLY MANAGING INVENTORY TO
MAINTAIN
MRIDIAN MRI-GUIDED RADIATION THERAPY SYSTEMS AT CUSTOMER SITES
ACROSS GLOBE.
    * VIEWRAY INC - BOARD ALSO DECREASED SIZE OF BOARD FROM NINE
TO
SEVEN DIRECTORS
    * VIEWRAY INC- EXPECTS THIS FINANCING TO PROVIDE NECESSARY
LIQUIDITY TO SUPPORT OPERATIONS DURING CHAPTER 11 PROCESS.
    * VIEWRAY INC - RECEIVED A COMMITMENT OF ABOUT $6 MILLION IN
DEBTOR-IN-POSSESSION FINANCING FROM MIDCAP FINANCIAL SERVICES
    * VIEWRAY INC - FOLLOWING COURT APPROVAL, EXPECTS THIS
FINANCING
TO PROVIDE NECESSARY LIQUIDITY TO SUPPORT OPERATIONS DURING
CHAPTER 11 PROCESS

Source text for Eikon:  ID:nPn5zMvbQa 
Further company coverage:  VRAY.O 

 ((Reuters.Briefs@thomsonreuters.com;))