Madison, Wisconsin – November 04, 2026 -- Accuray Incorporated (NASDAQ: ARAY) will cut its outstanding common shares from about 120.2 million to about 3.0 million through a 1-for-40 reverse stock split effective at 12:02 a.m. Eastern Time on November 9, 2026. The move is intended to lift the per-share price and restore compliance with the minimum bid price requirement for The Nasdaq Capital Market.
Accuray begins split-adjusted trading on Nasdaq on November 9 under a new CUSIP
The company's board approved the split. Shares are expected to trade on a split-adjusted basis at the Nasdaq open on November 9 under the existing symbol "ARAY" and a new CUSIP number, 004397 303. Every 40 issued and outstanding shares will automatically combine into one share.
Authorized common shares fall from 400 million to 10 million
Authorized common stock will be reduced proportionately, from 400,000,000 shares to 10,000,000. Authorized preferred stock will not change, and the par value of the common stock stays the same.
The split applies uniformly to all stockholders and will not change percentage ownership, except through the treatment of fractional shares. No fractional shares will be issued, and holders who would have received one will be paid cash instead.
Computershare handles the exchange as equity awards are adjusted
Computershare Trust Company, N.A. is the exchange agent. Holders in book-entry form or through a broker, bank or nominee will generally see their positions adjusted automatically, subject to their intermediary's processes. Holders of physical certificates will receive a transmittal letter with instructions after the effective date.
Shares underlying outstanding equity awards and other securities will be adjusted proportionately, as will exercise or conversion prices and the shares available under equity incentive plans.
Accuray ties listing compliance to debt covenants and tariff exposure
In its forward-looking statements, Accuray lists its ability to regain and maintain Nasdaq compliance among the uncertainties surrounding the split. Other cited risks include substantial outstanding indebtedness, the ability to meet covenants under its credit facilities, international tariffs, supply chain disruptions and higher logistics costs. The company also cites its ability to realize the expected benefits of its China joint venture.