TCW Group Increases Stake in Accuray Inc to 11.5% Following Warrant Issuance

On April 17, 2026, The TCW Group, Inc. filed Amendment No. 1 to its Schedule 13D regarding its investment in Accuray Inc (ARAY). The filing reports a significant increase in beneficial ownership, with TCW now holding 15,467,952 shares of Common Stock, representing 11.5% of the class. This increase is primarily driven by the issuance of various warrants to TCW Rescue Financing and TCW Direct Lending on December 15, 2025. These warrants include 'December Premium Warrants' (exercise price $1.25), 'Super Premium Warrants' ($1.50), and 'December Penny Warrants' ($0.01). The warrants were issued as an incentive for TCW to agree to amendments to an existing Financing Agreement. The 11.5% ownership calculation includes the shares issuable upon exercise of these warrants. TCW maintains shared voting and dispositive power over the reported shares through its various business units and subsidiaries. The warrants are exercisable for seven years, expiring in December 2032, subject to certain exercise restrictions designed to prevent the holder from exceeding 19.9% voting power without shareholder approval.