The US Bankruptcy Court gave an order to ViewRay ,Inc. to obtain DIP financing on an a final basis on August 29, 2023. As per the order, the debtor has been authorized to obtain a Term Loan in the amount of $6 million from MidCap Financial Trust with MidCap Financial Trust. acting as the administrative agent.

The DIP loan would carry an interest rate of 15% p.a. along with an additional 3% p.a. interest in the event of default. As per the terms of the DIP agreement, the loan carries a commitment fee of 3% p.a. The DIP facility would mature either on September 27, Adequate protection would be provided to the DIP lenders in the form of super-priority administrative expense claims which is subject to a carve-out of $0.1 million towards unpaid professional fees and first priority lien upon and security interest in the debtor?s collateral.