July 29, 2016 4:38 AM ET

Healthcare Equipment and Supplies

Company Overview of TomoTherapy Incorporated

Company Overview

TomoTherapy Incorporated engages in the manufacture of TomoTherapy, a medical device that combines CT imaging with helical delivery of intensity-modulated radiation therapy to treat difficult tumor targets and common types of cancers for clinicians. It sells its products in the United States and internationally. The company was founded in 1997 and is based in Sunnyvale, California. As of June 10, 2011, TomoTherapy Incorporated operates as a subsidiary of Accuray Incorporated.

1310 Chesapeake Terrace

Sunnyvale, CA 94089

United States

Founded in 1997

636 Employees

Phone:

408-716-4600

Fax:

408-716-4601

Key Executives for TomoTherapy Incorporated

Co-Founder and Chairman of the Board
Age: 61
Vice President of Operations & Business Development
Age: 43
Chief Executive Officer Emeritus
Vice President, Corporate Secretary and General Counsel
Age: 56
Chief Commercial Officer
Age: 52
Compensation as of Fiscal Year 2016.

TomoTherapy Incorporated Key Developments

Accuray Incorporated and TomoTherapy Incorporated Enter into Financing Agreement

On January 11, 2016, Accuray Incorporated entered into a financing agreement, as co-borrower, with TomoTherapy Incorporated, as co-borrower, Morphormics Inc. as guarantor (together with TomoTherapy and the company, collectively, the ‘Loan Parties’), the lenders party thereto and Cerberus Business Finance, LLC, as collateral agent and administrative agent. The Financing Agreement provides for a term loan credit facility in the amount of $70 million that matures on the earlier of: January 11, 2021 and the date that is 120 days prior to the scheduled maturity date of the company’s two series of convertible notes maturing February 1, 2018 (2018 Convertible Notes) unless as of the Springing Maturity Date the Company has in a segregated account funds raised from new common equity or new debt equal to the then-outstanding principal amount of the 2018 Convertible Notes. The proceeds of the Facility will be used to repurchase and/or retire the Company’s convertible notes maturing August 1, 2016. The Loan Parties’ obligations under the Financing Agreement are secured by first-priority liens on substantially all the assets of the Loan Parties, subject to certain exceptions. In addition, any subsequently acquired or formed domestic subsidiary will be obligated to guarantee the Borrowers’ obligations under the Financing Agreement and grant liens on substantially all of its assets in support thereof. The company is required to make amortization payments in the amount of $875,000 on the first day of each April, July, October and January during the term of the Facility, commencing on April 1, 2016. Borrowings under the Financing Agreement bear interest at a variable rate per annum equal to, at the company’s option, the LIBOR Rate (as defined in the Financing Agreement) plus 7.00% (subject to a LIBOR Rate floor of 1.00% per annum), or the Reference Rate (as defined in the Financing Agreement) plus 4.75% (subject to a Reference Rate floor of 3.25% per annum). The Company will be required to pay a prepayment premium of 2% if the Facility is repaid or accelerated within the first year (in the case of repayment, on the amount so repaid) and of 1% if the Facility is repaid or accelerated within the second year (in the case of repayment, on the amount so repaid). The Financing Agreement contains restrictions and covenants applicable to the company and its subsidiaries. Among other requirements, the company may not permit Consolidated EBITDA or the Fixed Charge Coverage Ratio (each as defined in the Financing Agreement) to be less than certain specified amounts for each fiscal quarter during the term of the Facility and the Secured Leverage Ratio or the Total Leverage Ratio (each as defined in the Financing Agreement) to be more than certain specified ratios for each fiscal quarter during the term of the Facility. The Financing Agreement also contains customary covenants that limit, among other things, the ability of the Company and its subsidiaries to incur indebtedness, incur liens on their property, pay dividends or make other distributions, sell their assets, make certain loans or investments, merge or consolidate, voluntarily repay or prepay certain indebtedness and enter into transactions with affiliates, in each case subject to certain exceptions. The Financing Agreement contains customary events of default.

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