Accuray Incorporated (ARAY) announced its Board of Directors has approved a 1-for-40 reverse stock split of its common stock. The action is intended to increase the per-share trading price to regain compliance with the minimum bid price requirement for continued listing on The Nasdaq Capital Market.
Key Details
- Effective Date: The reverse stock split will be effective at 12:02 a.m. ET on November 9, 2026, with split-adjusted trading beginning the same day.
- Share Impact: Every 40 shares of common stock will be combined into one. Authorized common shares will decrease from 400 million to 10 million, and outstanding shares will be reduced from approximately 120.2 million to 3.0 million.
- Trading Information: The stock will continue to trade on Nasdaq under the symbol "ARAY" but will be assigned a new CUSIP number of 004397 303. Cash will be paid in lieu of any fractional shares.