ViewRay receives court approval of bid procedures for assets

By Sarah Lizee

Olympia, Wash., Aug. 24 – ViewRay, Inc. received approval of the bid procedures for its assets, according to an order filed Wednesday with the U.S. Bankruptcy Court for the District of Delaware.

The assets include, among other things, intellectual property, inventory, property and equipment, cash and cash equivalents, accounts receivable, and deposits on purchased inventory, as previously reported.

The company has also received approval to choose a stalking horse bidder for the assets.

The bid deadline is 5 p.m. ET on Sept. 19, an auction is scheduled for Sept. 21, and a sale hearing will take place on Sept. 28.

B. Riley Securities is acting as investment banker.

Denver-based ViewRay designs, manufactures and markets MRIdian, a magnetic resonance image-guided radiation therapy system to simultaneously image and treat cancer patients. The company filed Chapter 11 bankruptcy on July 16 under case number 23-10935.

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