Accuray Exchanges $40 Million of Debt in TCW Recapitalization
Accuray announced on November 13, 2026 that it had completed its financing transaction with TCW Asset Management Company LLC, exchanging $40 million of term-loan debt for convertible preferred stock. The transaction reduces the radiation-therapy system maker's debt and provides covenant relief as it pursues the second phase of its strategic transformation. TCW is Accuray's primary lender and largest shareholder. The company issued 55,000 shares of Series A Convertible Preferred Stock for…