ViewRay, Inc. filed a motion in the US Bankruptcy Court for the sale of substantially all its assets on July 21, 2023. The parties that are interested in serving as a stalking horse bidder should submit a final binding proposal by August 18, 2023, and qualify as a qualified bidder, interested parties should submit their bids by September 11, 2023, along with good-faith deposit in the amount of 10% of the bid price. The initial minimum overbid should be equal to or greater than the applicable Stalking Horse Overbid if a Stalking Horse Bidder has been selected.

The debtor has scheduled an auction on September 14, 2023. At the auction, the subsequent bids would be in increments as determined by the debtor at or prior to the auction. Other than the stalking horse bidder no bidder is entitled to a break-up fee or expense reimbursement in case of termination of the asset purchase agreement.

The sale hearing is scheduled for September 19, 2023. Sale closing shall occur on September 27, 2023.