ACCURAY INCORPORATED (NASDAQ:ARAY) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01. Entry into a Material Definitive Agreement.
On March 4, 2019, Accuray Incorporated (the “Company”) entered into a Ninth Amendment to Lease (the “Amendment”) with Google LLC (“Landlord”).The Amendment modifies the Industrial Complex Lease, dated July 9, 2003, as amended (the “Lease”), between the Company and Landlord (as successor in interest to the original landlord under the Lease) for the Company’s headquarters office space located at 1310 and 1320 Chesapeake Terrace, Sunnyvale, California (the “Existing Premises”). Among other things, the Amendment partially terminates the Lease, effective February 28, 2019, with respect to approximately 39,678 rentable square feet of office space located at 1320 Chesapeake Terrace, Sunnyvale, California.Following such termination, the Amendment provides that the minimum guaranteed rental for the remainder of the Existing Premises shall initially be $193,905.72 per month through May 31, 2019 and thereafter be increased by 3% annually on June 1st of each year for the duration of the current term of the Lease.
The foregoing description of the material terms of the Amendment is subject to, and qualified in its entirety by reference to, the full text of the Amendment, a copy of which will be filed as an exhibit to the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2019.
About ACCURAY INCORPORATED (NASDAQ:ARAY)
Accuray Incorporated is a radiation oncology company. The Company develops, manufactures and markets medical devices used in radiation therapy for the treatment of cancer patients. Its products include the CyberKnife Systems, the TomoTherapy Systems, and the Radixact Delivery Treatment Platform. Its technologies, the CyberKnife and TomoTherapy Systems, are designed to deliver treatments, including stereotactic radiosurgery (SRS), stereotactic body radiation therapy (SBRT), intensity modulated radiation therapy (IMRT), image guided radiation therapy (IGRT) and adaptive radiation therapy. The CyberKnife Systems are robotic systems that are used to treat various types of cancer and tumors throughout the body. The CyberKnife Systems track, detect and correct for tumor and patient movement in real-time during the procedure. The TomoTherapy Systems include the TomoTherapy H Series with configuration options of TomoH, TomoHD and TomoHDA.