TomoTherapy, a developer of radiation therapy equipment, has announced the pricing of a public offering of 8.5 million shares of its common stock at a price of $22.25 per share.

The Madison, Wis.-based TomoTherapy said it will not receive any proceeds from the sale of shares by the selling shareholders.

The closing of the offering is scheduled for Oct. 16. The offering will be made only by means of a prospectus.

Merrill Lynch acted as sole-bookrunning manager, while Piper Jaffray, Thomas Weisel Partners, Robert W. Baird and William Blair acted as co-managers for the offering.