---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-26-024904"
form_type: "8-K"
ticker: "ARAY"
cik: "0001138723"
company_name: "ACCURAY INC"
filed_at: "2026-07-29T21:25:17+00:00"
generated_at: "2026-07-29T21:26:10.973376+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Accuray restructures with TCW: $40M debt to preferred, $15M cash, covenant holiday through 2027

## Summary
- TCW exchanges $40M term loan for convertible preferred stock at $0.50/share (105.4% premium to prior close), 8% dividend.
- TCW invests $15M cash for additional preferred shares; $5M delayed draw term loan made available.
- Financial covenant holiday through Dec 31, 2027; first test date Mar 31, 2028.
- Board reduced to 7; TCW appoints 2 directors (Steven Mayer, Chan Galbato); Beverly Huss and Anne LeGrand resigned.
- Non-binding LOIs with Samsung HME America (imaging) and RaySearch Laboratories (adaptive therapy) to accelerate innovation.

## SEC filing metadata
- accession: 0001437749-26-024904
- form_type: 8-K
- ticker: ARAY
- cik: 0001138723
- company_name: ACCURAY INC
- filed_at: 2026-07-29T21:25:17+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 3.02, 5.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1138723/000143774926024904/0001437749-26-024904-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1138723/000143774926024904/aray20260729_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-26-024904
- JSON: https://secwatch.observer/filing/0001437749-26-024904.json
- Plain text: https://secwatch.observer/filing/0001437749-26-024904.txt

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