SUNNYVALE, Calif., Jan. 19, 2016 /PRNewswire/ -- Accuray
Incorporated (NASDAQ: ARAY) today announced that between January 11 and January 15, 2016, the
company, in privately-negotiated transactions, had repurchased
approximately $63.4 million in
aggregate principal amount of its 3.75% Convertible Senior Notes
due August 2016 (the "2016 Notes")
for $66.6 million in cash. The
company anticipates that the closings of these repurchases will be
completed by January 20, 2016.
Following the closings of these repurchases, the company
estimates that approximately $36.6
million in aggregate principal amount of 2016 Notes will
remain outstanding and is intended to be repaid in cash funded by
Accuray at the earlier of August 2016
or when otherwise redeemed. The company expects to record a charge
in the third quarter of fiscal 2016 of approximately $1.0 million associated with the repurchases of
the notes.
About Accuray
Accuray Incorporated (Nasdaq: ARAY) is a radiation oncology company
that develops, manufactures and sells precise, innovative treatment
solutions that set the standard of care with the aim of helping
patients live longer, better lives. The company's
leading-edge technologies deliver the full range of radiation
therapy and radiosurgery treatments. For more information, please
visit www.accuray.com.
Safe Harbor Statement
Statements made in this press release that are not statements of
historical fact are forward-looking statements and are subject to
the "safe harbor" provisions of the Private Securities Litigation
Reform Act of 1995. This press release contains
forward-looking statements regarding the amount of the third
quarter charge to be recorded and Accuray's intention to repay the
remaining 2016 Notes in cash. Forward-looking statements are
subject to risks and uncertainties that could cause actual results
to differ materially from expectations, including but not limited
to the risks detailed under the heading "Risk Factors" in the
company's report on Form 10-K, filed on August 28, 2015, the company's report on Form
10-Q, filed on November 5, 2015, and
the company's other filings with the SEC.
Forward-looking statements speak only as of the date the
statements are made and are based on information available to the
company at the time those statements are made and/or management's
good faith belief as of that time with respect to future
events. The company assumes no obligation to update
forward-looking statements to reflect actual performance or
results, changes in assumptions or changes in other factors
affecting forward-looking information, except to the extent
required by applicable securities laws. Accordingly,
investors should not put undue reliance on any forward-looking
statements.
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SOURCE Accuray Incorporated