secwatch.observer — SEC 8-K summary
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Issuer:     ViewRay, Inc. (—)
CIK:        0001597313
Form:       8-K
Filed at:   2023-07-17T23:59:59+00:00
Accession:  0001628280-23-024952
Event type: other_material
Sentiment:  negative
Materiality: 0.95
Item codes: 1.01, 1.03, 2.04, 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

ViewRay files Chapter 11, secures $6M DIP financing; CEO and board replaced
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- Filed Chapter 11 on July 16, 2023; intends to sell substantially all assets under Section 363.
- Secured $6M debtor-in-possession financing from MidCap Financial to support operations.
- CEO Scott Drake terminated without cause; Paul Ziegler appointed CEO and to the board.
- Directors Phillip Spencer and Gail Wilensky resigned; board reduced from 9 to 7 members.
- About $57.5M in debt accelerated upon bankruptcy filing; interim CFO and other changes.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1597313/000162828023024952/0001628280-23-024952-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1597313/000162828023024952/vray-20230715.htm
  HTML page:      https://secwatch.observer/filing/0001628280-23-024952

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer