Accuray Incorporated filed a Form 8-K on November 4, 2026, announcing that its previously approved 1-for-40 reverse stock split will become effective on November 9, 2026, at 12:02 a.m. Eastern Time.

Key Highlights

  • Split ratio: The Board approved a 1-for-40 reverse stock split on October 28, 2026, the maximum ratio within the stockholder-approved range of 1-for-15 to 1-for-40.
  • Effective date: The Reverse Stock Split is effective November 9, 2026 at 12:02 a.m. Eastern Time, after which the stock will trade on a split-adjusted basis under the existing symbol ARAY with new CUSIP number 004397 303.
  • Authorized shares reduced: Authorized Common Stock will decrease from 400,000,000 shares to 10,000,000 shares; total authorized capital stock will decrease from 405,000,000 shares to 15,000,000 shares.
  • Preferred stock unchanged: The 5,000,000 authorized shares of preferred stock will not be adjusted as a result of the Reverse Stock Split.
  • Fractional shares: No fractional shares will be issued; stockholders entitled to a fractional share will receive a cash payment equal to that fraction multiplied by the closing sales price of the Common Stock on Nasdaq on the trading day immediately preceding the Effective Time, adjusted to reflect the split.
  • Equity awards and warrants adjusted: The Board approved corresponding adjustments to all outstanding stock options, restricted stock units, performance units, and warrants, including the number of shares purchasable and exercise prices.

Accuray's 1-for-40 Reverse Split: Mechanics and Impact on Shares

According to the filing, stockholders of Accuray Incorporated (NASDAQ:ARAY) approved an amendment to the company's Amended and Restated Certificate of Incorporation at a Special Meeting held on October 6, 2026, authorizing the Board to select a reverse stock split ratio between 1-for-15 and 1-for-40. On October 28, 2026, the Board selected the 1-for-40 ratio. The amendment will be effected by filing a Certificate of Amendment with the Secretary of State of the State of Delaware.

At the Effective Time, the filing states, "each forty (40) shares of Common Stock issued and outstanding or held by the Company in treasury immediately prior to the Effective Time will automatically and without any action on the part of the Company or the respective holders thereof be combined into one (1) validly issued, fully paid and nonassessable share of Common Stock." The par value of the Common Stock, $0.001 per share, will not be affected by the Reverse Stock Split. The filing notes that the split "will affect all stockholders uniformly and will not change any stockholder's percentage ownership interest in the Company," except for the effect of cash payments made in lieu of fractional shares.

Computershare Trust Company, N.A. is acting as the exchange agent, the filing disclosed. Stockholders holding shares in book-entry form under the direct registration system do not need to take any action to receive their post-split shares. Stockholders holding certificated shares will receive a letter of transmittal from Computershare with instructions. The company also noted that non-registered stockholders holding shares through a bank, broker, or other nominee should contact those intermediaries directly, as their procedures may differ from those applied by the company for record holders.

What Was Disclosed

Accuray filed an 8-K on November 4, 2026 to announce a 1-for-40 reverse stock split effective November 9, 2026, covering the reduction of authorized shares, treatment of fractional shares, adjustment of outstanding equity awards and warrants, and exchange agent procedures.