Accuray Incorporated

09/16/2024 | Press release | Distributed by Public on 09/16/2024 14:02

Material Agreement Form 8 K

Item 1.01 Entry into a Material Definitive Agreement.

On September 12, 2024, Accuray Incorporated (the "Company") entered into the Fourth Amendment to Credit Agreement (the "Fourth Amendment") in respect of its Credit Agreement (the "Existing Credit Agreement"; the Existing Credit Agreement as amended by the Fourth Amendment, the "Amended 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 Fourth Amendment is to provide for (i) changes in the Consolidated Fixed Charge Coverage Ratio and the Consolidated Senior Net Leverage Ratio for the first quarter of the Company's 2025 fiscal year, (ii) the addition of a Minimum Liquidity covenant to the Amended Credit Agreement, and (iii) reducing the Available Revolving Commitments available under the Amended Credit Agreement to no more than $20 million.

The foregoing description of the Fourth Amendment does not purport to be complete and is qualified in its entirety by the terms and conditions of the Fourth 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 September 30, 2024.