TCW Group Increases Stake in Accuray Inc to 13.7% via New Warrant Issuance

On May 22, 2026, The TCW Group, Inc. filed Amendment No. 2 to its Schedule 13D regarding its investment in Accuray Inc (ARAY). The filing reports an increase in beneficial ownership to 18,942,059 shares of Common Stock, representing approximately 13.7% of the class. This increase resulted from the issuance of several tranches of Common Stock Purchase Warrants on May 19, 2026, in connection with a Delayed Draw Term Loan under an existing Financing Agreement. Specifically, TCW entities received "May Premium Warrants" with an exercise price of $1.25, "May Super Premium Warrants" at $1.50, and "December Penny Warrants" at $0.01. No separate consideration was paid for these warrants, as they were issued as a condition to the lending obligations. The warrants are exercisable for seven years, with some subject to a six-month holding period before exercise. The reporting person now shares voting and dispositive power over the total 18,942,059 shares issuable upon exercise of all held warrants. The filing also includes standard anti-dilution protections and a 19.9% beneficial ownership blocker.