ViewRay plunges on filing voluntary Chapter 11 bankruptcy

Viewray

17/07/2023 12:15

** Shares of radiation therapy system maker ViewRay  VRAY.O 
fall ~39% at $0.22 premarket
    ** VRAY announces that company and its subsidiaries filed
voluntary petitions for relief under Chapter 11 in the United
States Bankruptcy Court for the District of Delaware
    ** Says it intends to pursue a sale of its business,
including sale of all or portion of its assets, while continuing
to support its customers during the Chapter 11 process
    ** VRAY says it received commitment of about $6 mln in
debtor-in-possession financing from MidCap Financial Services
LLC
    ** Company says Scott Drake ceased to serve as CEO; appoints
Paul Ziegler as company's CEO, effective July 15
    ** As of last close, stock had fallen 91.8% YTD

 (Reporting by Granth Vanaik in Bengaluru)
 ((Granth.Vanaik@thomsonreuters.com; Twitter: https://twitter.com/Vanaik_Granth;))