Ohio-based ViewRay Inc., a healthcare equipment company, has started an underwritten public offering of $125 million of its common shares.

The company also plans to grant the underwriters an option to buy up to an additional $18.8 million of shares.

ViewRay plans to use the net proceeds from the offering for working capital and general corporate purposes, including capital expenditures, research and development expenses, commercial expenses, clinical data generation costs and infrastructure expenses.

Morgan Stanley and Jefferies are acting as joint book-running managers, with Guggenheim Securities as book-running manager for the offering.