Radiation therapy firm Accuray is preparing to offer $75 million in convertible senior notes to qualified institutional investors.
Accuray said it intends to grant initial purchasers of the notes an option to purchase up to an additional $11.25 million aggregate principal amount in notes. The notes, which mature on August 1, 2016, are expected to be convertible under certain conditions into common stock of Accuray, cash, or a combination of stock and cash.
Accuray intends to use the proceeds for general corporate purposes, including investing strategically in business expansion and new product initiatives.
