Accuray Inc. Files 8-K for Material Agreement and Financials

Ticker: ARAY · Form: 8-K · Filed: May 1, 2024 · CIK: 1138723

Sentiment: neutral

Topics: material-agreement, financial-results, regulation-fd

Related Tickers: ACGY

TL;DR

ACGY filed an 8-K: new material agreement + financial results out.

AI Summary

On April 25, 2024, Accuray Incorporated (ACGY) entered into a Material Definitive Agreement. The company also reported its Results of Operations and Financial Condition, and made a Regulation FD Disclosure. This filing includes Financial Statements and Exhibits.

Why It Matters

This 8-K filing indicates Accuray has entered into a significant agreement and is providing updates on its financial performance, which could impact investor decisions.

Risk Assessment

Risk Level: medium — Material definitive agreements and financial condition updates can significantly impact a company's stock price and future prospects.

Key Players & Entities

FAQ

What is the nature of the Material Definitive Agreement entered into by Accuray Inc. on April 25, 2024?

The filing indicates the entry into a Material Definitive Agreement, but the specific details of this agreement are not provided in the provided text snippet.

What specific financial information is being reported in the Results of Operations and Financial Condition section?

The provided text snippet states that the company is reporting on its Results of Operations and Financial Condition, but does not detail the specific financial figures.

What is the purpose of the Regulation FD Disclosure mentioned in the filing?

The Regulation FD Disclosure is a standard part of an 8-K filing to ensure that material non-public information is disclosed to the public in a non-discriminatory manner.

What are the key exhibits included with this 8-K filing?

The filing mentions 'Financial Statements and Exhibits' as an item information, but the specific list of exhibits is not detailed in the provided text.

When was Accuray Incorporated incorporated and what is its fiscal year end?

Accuray Incorporated was incorporated in Delaware and its fiscal year ends on June 30.

Filing Stats: 1,050 words · 4 min read · ~4 pages · Grade level 12.2 · Accepted 2024-05-01 16:05:21

Key Financial Figures

Filing Documents

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. On April 25, 2024, Accuray Incorporated (the "Company") entered into the Third Amendment to Credit Agreement (the "Amendment") in respect of its Credit Agreement (the "Existing Credit Agreement") among the Company, the financial institutions party thereto as lenders and issuing lenders and Silicon Valley Bank as administrative agent, issuing lender and swingline lender. The principal purpose of the Amendment is to permit the full amount of the restructuring and severance charges associated with the reduction-in-force conducted in November 2023 to be added back in the calculation of Consolidated EBITDA, including (x) restructuring charges up to $2,633,000 for the trailing twelve month period ending March 31, 2024; $2,633,000 for the trailing twelve month period ending June 30, 2024; $2,633,000 for the trailing twelve month period ending September 30, 2024; and $0 for the trailing twelve month period ending December 31, 2024 and thereafter and (y) pro forma "run rate" cost savings up to $6,836,000 for the trailing twelve month period ending March 31, 2024; $3,798,000 for the trailing twelve month period ending June 30, 2024; $760,000 for the trailing twelve month period ending September 30, 2024; and $0 for the trailing twelve month period ending December 31, 2024 and thereafter. The foregoing description of the Amendment does not purport to be complete and is qualified in its entirety by the terms and conditions of the Amendment, a copy of which will be filed as an exhibit to the Company's Quarterly Report on Form 10-Q for the quarter ending March 31, 2024.

02 Results of Operations and Financial Condition

Item 2.02 Results of Operations and Financial Condition. On May 1, 2024, the Company issued a press release announcing its financial results for the third quarter ended March 31, 2024. A copy of the Company's press release dated May 1, 2024, titled Accuray Reports Fiscal 2024 Third Quarter Financial Results" is attached hereto as Exhibit 99.1 and is incorporated herein by reference. The foregoing information (including the exhibit hereto) is being furnished under "Item 2.02 Results of Operations and Financial Condition" and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended (the "Securities Act"), except as shall be expressly set forth by specific reference in such filing.

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure. Spokespersons of the Company plan to present the information in the presentation attached hereto as Exhibit 99.2 to analysts and investors from time to time on or after May 1, 2024. The presentation will be available on the Company's Investor Relations website at: http://investors.accuray.com. The furnishing of the attached presentation is not an admission as to the materiality of any information therein. The information contained in the presentation is summary information that is intended to be considered in the context of more complete information included in the Company's filings with the U.S. Securities and Exchange Commission and other public announcements that the Company has made and may make from time to time by press release or otherwise. The Company undertakes no duty or obligation to update or revise the information contained in this report. For important information about forward looking statements, see the slide titled "Forward-Looking Statements" in Exhibit 99.2 attached hereto. The information set forth under Item 2.02 of this Current Report on Form 8-K is incorporated by reference into this Item 7.01. The information contained in this Item 7.01 disclosure, including Exhibit 99.1 and Exhibit 99.2, is furnished pursuant to Item 7.01 and shall not be deemed to be "filed" for the purposes of Section 18 of the Exchange Act or otherwise subject to the liabilities of that Section, nor shall it be incorporated by reference into a filing under the Securities Act or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 99.1 Press release dated May 1, 2024, titled "Accuray Reports Fiscal 2024 Third Quarter Financial Results" 99.2 Accuray Third Quarter Fiscal 2024 Earnings Call Presentation 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 2

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. ACCURAY INCORPORATED Date: May 1, 2024 By: /s/ Ali Pervaiz Ali Pervaiz Senior Vice President & Chief Financial Officer 3

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