PR Newswire·Oct 6, 2026, 4:10 PM ET

Accuray Announces Stockholder Approval of Key Financing-Related Proposals and Appointment of New Independent Director

Accuray stockholders approved all proposals at the Special Meeting held on October 6, 2026, enabling the completion of transactions with TCW Asset Management Company LLC.
The transaction involves exchanging $40 million of term loan debt for convertible preferred stock, a $15 million equity investment by TCW, & access to a delayed draw term loan of up to $5 million.
Covenant relief is granted through December 31, 2027, & the deal includes governance enhancements & a reverse stock split with a ratio ranging from 1-for-15 to 1-for-40.
Accuray's board retains discretion to determine the exact reverse stock split ratio & timing based on market conditions.
The board approved the issuance of common stock per Nasdaq Listing Rule 5635 & an increase in authorized common stock shares.
Richard A. ("Randy") Meier was appointed to the board of directors & will serve on the Compensation Committee.
Mr. Meier brings over 30 years of executive leadership experience in healthcare & medical technology sectors.
Final voting results will be reported in a Form 8-K filed with the Securities and Exchange Commission.