Accuray Announces Stockholder Approval of Key Financing-Related Proposals and Appointment of New Independent Director
Key Highlights
- ➤Stockholders approved all proposals enabling Accuray’s TCW financing transaction
- ➤TCW will exchange $40 million term debt for convertible preferred stock
- ➤TCW will invest $15 million and provide delayed-draw borrowing up to $5 million
- ➤Accuray receives covenant relief through December 31, 2027
- ➤Reverse split approved at a board-selected ratio between 1-for-15 and 1-for-40
Expert Statements
Steve La Neve, President and Chief Executive Officer of Accuray
“We appreciate our stockholder's support of these proposals, which will enable us to move ahead with our previously announced transactions and further strengthen our financial position,”
Steve La Neve, President and Chief Executive Officer of Accuray
“We are pleased to welcome Randy to the Board. His strategic perspective and track record of driving organizational performance will be valuable as we advance our priorities and deliver long-term value for our shareholders.”
Joe Whitters, Chairman of the Accuray Board of Directors
“Randy's combination of executive leadership, financial expertise, and operational experience will be a strong addition to our Board,”
Joe Whitters, Chairman of the Accuray Board of Directors
“His experience across a range of healthcare organizations and public companies will bring valuable perspective to the Board as we support management's strategic priorities.”
Accuray Announces Stockholder Approval of Key Financing-Related Proposals and Appointment of New Independent Director PR Newswire
MADISON, Wis., Oct. 6, 2026 /PRNewswire/ -- Accuray Incorporated (Nasdaq: ARAY) today announced that stockholders approved all proposals presented at the company's Special Meeting of Stockholders held on October 6, 2026, enabling Accuray to complete its previously announced transactions with TCW Asset Management Company LLC, the company's primary lender and largest shareholder.
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