secwatch.observer — SEC 8-K summary
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Issuer:     ACCURAY INC (ARAY)
CIK:        0001138723
Form:       8-K
Filed at:   2025-06-06T23:59:59+00:00
Accession:  0000950103-25-007090
Event type: debt
Sentiment:  neutral
Materiality: 0.85
Item codes: 1.01, 1.02, 2.03, 3.02, 5.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1138723/000095010325007090/0000950103-25-007090-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1138723/000095010325007090/dp229846_8k.htm
  HTML page:      https://secwatch.observer/filing/0000950103-25-007090

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