Files voluntarily petition for relief under U.S. Bankruptcy code.
DENVER, CO, July 17, 2023 - ViewRay, Inc. (Nasdaq: VRAY) announced today that it and certain of its subsidiaries (collectively, "the Company") filed voluntary petitions for relief (the "Petitions") under Chapter 11 of Title 11 the U.S. Bankruptcy Code ("Chapter 11") in the United States Bankruptcy Court for the District of Delaware (the "Court"). The Company further disclosed that it intends to pursue a sale of its business under Section 363 of the Bankruptcy Code, including a sale of all or a portion of the Company's assets, while continuing to support its customers during the Chapter 11 process.
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I LUV NFT Art : Yeah I saw that news yesterday and reason for the massive drop. Wasn’t something new coming out today ?
Jamesbond86OP I LUV NFT Art: I’m not sure, looks like if they get the new loan facilities under the new terms, the stock might enjoy a short term crazy rally.
Jamesbond86OP : The median target price in 1 year is $1. That’s 1700%.
I LUV NFT Art Jamesbond86OP: That would be a blessing!
I have no words for what is happening to this stock. It’s comical! I’ve never seen anything like this before. I bought the bottom yesterday. But didn’t expect this to go lower. Lol! Comical!