Radiation therapy company ViewRay Inc (Nasdaq:VRAY ) said on Friday that it has completed an underwritten public offering of 18,648,649 shares of its common stock.

All of the shares in the offering were sold by the company at the public offering price of USD9.25 per share for gross proceeds of about USD172.5m, before deducting underwriting discounts and commissions and estimated offering expenses and including the full exercise of the underwriters' option to purchase additional shares.

Net proceeds from the offering may be used by the company for working capital, general corporate purposes, capital expenditures, research and development expenses, commercial expenses, clinical data generation costs as well as infrastructure expenses.

For the offering, Morgan Stanley and Jefferies acted as the joint book-running managers. Guggenheim Securities also acted as a book-running manager.