Stung by widening losses, Accuray plans $75M debt offering | Wall Street Beat

February 7, 2013 by MassDevice staff

On the heels of gaping losses and a more than 25% sales decline, Accuray announces plans for a $75 million debt round.

MassDevice.com Wall Street Beat

Accuray (NSDQ:ARAY) plans to issue $75 million worth of convertible senior notes as it gears up to restructure its business after a year of widening losses.

The Sunnyvale, Calif.-based medical device company said it will use the proceeds from the offering of debt due Feb. 1, 2018, to shore up its balance sheet.

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