---
schema_version: "secwatch.filing_event.v1"
accession: "0000950103-25-007090"
form_type: "8-K"
ticker: "ARAY"
cik: "0001138723"
company_name: "ACCURAY INC"
filed_at: "2025-06-06T23:59:59+00:00"
generated_at: "2026-05-19T18:04:38.517633+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Accuray refinances debt: $150M term loan from TCW, exchanges $82M notes for stock & cash

## Summary
- Exchanged ~$82M of 3.75% convertible notes for 8.88M shares and ~$68.6M cash; $18M of notes remain outstanding.
- New $150M term loan, $20M delayed draw, $20M revolver with TCW; matures June 2030; interest SOFR+8.5% or base+7.5%.
- Issued 17.2M Premium Warrants ($1.68 strike, 6-month lockout) and 6.25M Penny Warrants ($0.01 strike) to lenders.
- Appointed Steven F. Mayer (TCW designee) to board; TCW also gets two non-voting observer seats.
- Proceeds used to fully repay existing SVB credit facility and fund note exchange; existing agreement terminated.

## SEC filing metadata
- accession: 0000950103-25-007090
- form_type: 8-K
- ticker: ARAY
- cik: 0001138723
- company_name: ACCURAY INC
- filed_at: 2025-06-06T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 1.02, 2.03, 3.02, 5.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1138723/000095010325007090/0000950103-25-007090-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1138723/000095010325007090/dp229846_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950103-25-007090
- JSON: https://secwatch.observer/filing/0000950103-25-007090.json
- Plain text: https://secwatch.observer/filing/0000950103-25-007090.txt

## Key facts
- Debt Financings
  ACCURAY INC incurred credit facility of $150 million of new five-year term loan facilities, a new $20 million delayed draw term loan facility and a new $20 mill with TCW Asset Management Company LLC at term SOFR-based rate (subject to a 2.00% per annum floor), plus an applicable ma maturing June 6, 2030.
  - Instrument: credit facility
  - Principal: $150 million of new five-year term loan facilities, a new $20 million delayed draw term loan facility and a new $20 mill
  - Counterparty: TCW Asset Management Company LLC
  - Rate: term SOFR-based rate (subject to a 2.00% per annum floor), plus an applicable ma
  - Maturity: June 6, 2030
  - Event: incurrence
  source text: (Exact name of Registrant as Specified in Its Charter) ____________________________ Delaware (State or Other Jurisdiction of Incorporation) 001-33301 (Commission File Number) 20-8370041 (IRS Employer Identification No.) 1240 Deming Way Madison , Wisconsin (Address of Principal Executive Offices) 53717-1954 (Zip Code) Registrant’s Telephone Number,
  evidence_url: https://www.sec.gov/Archives/edgar/data/1138723/000095010325007090/0000950103-25-007090-index.htm
- Executive change
  Steven F. Mayer was appointed as Director at ACCURAY INC.
  - Action: appointed
  - Role: Director
  source text: On June 3, 2025, the Board appointed Steven F. Mayer to the Board as a Class III director, with a term expiring at the Company’s 2027 annual meeting of stockholders, effective immediately prior to, and contingent upon, the effectiveness of the Financing Agreement.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1138723/000095010325007090/0000950103-25-007090-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.