Mergers & Acquisitions ·
Accuray stockholders approve reverse split and $60M TCW financing deal
ARAYAccuray Inc
Stockholders approved a reverse stock split with a ratio between 1-for-15 and 1-for-40, an increase in authorized common shares to 400 million, and the issuance of equity under Nasdaq Listing Rule 5635. These votes enable the company to close its previously announced transaction with TCW Asset Management Company LLC, which includes exchanging $40 million of term loan debt for convertible preferred stock, a $15 million equity investment, and access to a delayed draw term loan of up to $5 million. The board appointed Richard A. Meier as an independent director effective October 5, 2026. Accuray develops radiation therapy solutions for oncology.