As filed with the Securities and Exchange Commission on February 5, 2009

 

Registration No. 333-                  

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 


 

FORM S-8

 

REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933

 

ACCURAY INCORPORATED

(Exact name of registrant as specified in its charter)

 

Delaware

(State or Other Jurisdiction of
Incorporation or Organization)

 

20-8370041

(I.R.S. Employer
Identification Number)

 


 

1310 Chesapeake Terrace
Sunnyvale, California 94089

(Address of Principal Executive Offices including Zip Code)

 


 

Accuray Incorporated 2007 Incentive Award Plan

Accuray Incorporated 2007 Employee Stock Purchase Plan

(Full Title of the Plan)

 


 

Euan S. Thomson, Ph. D.
Chief Executive Officer
Accuray Incorporated
1310 Chesapeake Terrace
Sunnyvale, California 94089
(408) 716-4600

 

Copy to:
Michael W. Hall, Esq.
Latham & Watkins LLP
140 Scott Drive
Menlo Park, California 94025
(650) 328-4600

(Name and Address, Including Zip Code, and Telephone Number,
Including Area Code, of Agent for Service)

 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one):

 

Large accelerated filer o

Accelerated filer x

 

 

Non-accelerated filer o

Smaller reporting company o

(Do not check if a smaller reporting company)

 

 

CALCULATION OF REGISTRATION FEE

 

Title Of
Securities To Be
Registered (1)

 

Amount
To Be
Registered (2)

 

Proposed
Maximum
Offering

Price Per
Share

 

Proposed
Maximum
Aggregate
Offering
Price

 

Amount Of
Registration
Fee

Common Stock, par value $0.001 per share

 

2,045,889

(3)

$

5.95

(4)

$

12,173,039.55

(4)

$

478.40

 

(1)

In addition, pursuant to Rule 416(c) of the Securities Act of 1933, as amended (the “Securities Act”), this Registration Statement also covers an indeterminate amount of interests to be offered or sold pursuant to the Accuray Incorporated Employee Stock Purchase Plan (the “ESPP”).

 

 

(2)

This Registration Statement shall also cover any additional shares of Common Stock which become issuable under the Accuray Incorporated 2007 Incentive Award Plan (the “2007 Plan”) and the ESPP being registered pursuant to this Registration Statement by reason of any stock dividend, stock split, recapitalization or any other similar transaction effected without the receipt of consideration which results in an increase in the number of the Registrant’s outstanding shares of Common Stock.

 

 

(3)

Represents (i) 1,500,000 shares of Common Stock issuable under the 2007 Plan and (ii) 545,889 shares of Common Stock issuable under the ESPP.

 

 

(4)

Estimated solely for the purpose of calculating the registration fee pursuant to Rule 457(h) and (c) under the Securities Act, on the basis of the average of the high ($6.40) and low ($5.50) prices of the Common Stock as reported on The Nasdaq Global Market on January 30, 2009.

 

 

 



 

EXPLANATORY NOTE

 

Accuray Incorporated (the “Company” or the “Registrant”) filed with the Securities and Exchange Commission on March 9, 2007, (i) a registration statement on Form S-8 (File No. 333-141194) relating to 9,000,000 shares of Common Stock to be offered and sold under the 2007 Plan and (ii) a registration statement on Form S-8 (File No. 333-141195) relating to 4,000,000 shares of Common Stock to be offered and sold under the ESPP (collectively, the “Prior Registration Statements”).  The Registrant is hereby registering an additional 1,500,000 shares of Common Stock issuable under the 2007 Plan and 545,889 shares of Common Stock issuable under the ESPP, none of which has been issued as of the date of this Registration Statement.

 

This Registration Statement relates to securities of the same class as those to which the Prior Registration Statements relate, and is submitted in accordance with General Instruction E to Form S-8 regarding Registration of Additional Securities. Pursuant to Instruction E of Form S-8, the contents of the Prior Registration Statements are incorporated herein by reference and made part of this Registration Statement, except as amended hereby.

 

2



 

PART II

 

INFORMATION REQUIRED IN THE REGISTRATION STATEMENT

 

Item 3.           Incorporation of Documents by Reference

 

The following documents, which were filed with the Commission, are incorporated herein by reference (excluding any portions of such documents that have been “furnished” but not “filed” for purposes of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)):

 

(a)          The Company’s Annual Report on Form 10-K for the fiscal year ended June 28, 2008, filed with the Commission on September 10, 2008 (File No. 001-33301) (including portions incorporated by reference to the Company’s proxy statement on Schedule 14A filed with the Commission on September 29, 2008);

 

(b)         The Company’s Quarterly Reports on Form 10-Q for the fiscal quarters ended September 27, 2008 and December 27, 2008, filed with the Commission on December 19, 2008 and February 5, 2009, respectively (File No. 001-33301);

 

(c)          The Company’s Current Reports on Form 8-K filed with the Commission on September 15, 2008, October 28, 2008, November 20, 2008, December 4, 2008 and December 9, 2008, and January 29, 2009 (File No. 001-33301); and

 

(d)         The description of the Common Stock contained in the Company’s Registration Statement on Form 8-A filed with the Commission on February 7, 2007 (File No. 001-33301), including any subsequently filed amendments and reports updating that description.

 

All documents subsequently filed by the Registrant pursuant to Section 13(a), 13(c), 14 or 15(d) of the Exchange Act after the date of this Registration Statement and before the filing of a post-effective amendment stating that all securities offered hereby have been sold or deregistering all securities then remaining unsold, shall be deemed to be incorporated by reference herein and to be a part of this Registration Statement from the date of the filing of such documents. Any statement contained in a document incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for purposes of this Registration Statement to the extent that a statement contained in this Registration Statement, or in any other subsequently filed document which also is or is deemed to be incorporated by reference in this Registration Statement, modifies or supersedes such statement. Any statement so modified or superseded shall not be deemed, except as so modified or superseded, to be a part of this Registration Statement.  Information contained in a Current Report on Form 8-K furnished to the Commission will not be incorporated by reference into this Registration Statement.

 

3



 

Item 8.           Exhibits

 

See Index to Exhibits on page 8.

 

Item 9.           Undertakings

 

(a)   The undersigned Registrant hereby undertakes:

 

(1)     To file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement:

 

(i)    To include any prospectus required by Section 10(a)(3) of the Securities Act;

 

(ii)   To reflect in the prospectus any facts or events arising after the effective date of this Registration Statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in this Registration Statement.  Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than 20 percent change in the maximum aggregate offering price set forth in the “Calculation of Registration Fee” table in the effective Registration Statement.

 

(iii)  To include any material information with respect to the plan of distribution not previously disclosed in the registration statement or any material change to such information in the Registration Statement;

 

provided, however, that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in periodic reports filed with or furnished to the Commission by the Registrant pursuant to Section 13 or Section 15(d) of the Exchange Act that are incorporated by reference in this Registration Statement.

 

(2)     That, for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.

 

(3)     To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.

 

4



 

(b)   The undersigned Registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the Registrant’s annual report pursuant to Section 13(a) or Section 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan’s annual report pursuant to Section 15(d) of the Exchange Act) that is incorporated by reference in the Registration Statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.

 

(c)   Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the Commission such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable.  In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director, officer or controlling person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.

 

5



 

SIGNATURES

 

Pursuant to the requirements of the Securities Act of 1933, as amended, we have duly caused this to the Registration Statement on Form S-8 to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Sunnyvale, State of California, on the 5th day of February 2009.

 

 

ACCURAY INCORPORATED

 

 

 

By:

/s/ Euan S. Thomson

 

 

Euan S. Thomson, Ph.D.
President and Chief Executive Officer

 

6



 

POWER OF ATTORNEY

 

KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below hereby constitutes and appoints Euan S. Thomson and Derek Bertocci and each of them acting individually, as his or her true and lawful attorneys-in-fact and agents, with full power of each to act alone, with full powers of substitution and resubstitution, for him or her and in his or her name, place and stead, in any and all capacities, to sign any and all amendments to this registration statement on Form S-8, and to file the same, with all exhibits thereto, and all documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorneys-in-fact and agents, with full power of each to act alone, full power and authority to do and perform each and every act and thing requisite and necessary to be done in connection therewith, as fully for all intents and purposes as he or she might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents, or his, her or their substitutes, may lawfully do or cause to be done by virtue hereof.

 

Pursuant to the requirements of the Securities Act of 1933, as amended, this Registration Statement on Form S-8 has been signed by the following persons in the capacities and on the dates indicated.

 

Signature

 

Title

 

Date

 

 

 

 

 

/s/ Euan S. Thomson

 

President and Chief Executive Officer and

 

February 2, 2009

Euan S. Thomson, Ph.D

 

Director (principal executive officer)

 

 

 

 

 

 

 

/s/ Derek Bertocci

 

Senior Vice President and Chief Financial

 

February 2, 2009

Derek Bertocci

 

Officer (principal financial and
accounting officer)

 

 

 

 

 

 

 

/s/ Wayne Wu

 

Chairperson of the Board of Directors and

 

February 2, 2009

Wayne Wu

 

Director

 

 

 

 

 

 

 

/s/ Elizabeth Dávila

 

Vice Chairperson of the Board of

 

February 2, 2009

Elizabeth Dávila

 

Directors and Director

 

 

 

 

 

 

 

/s/ John R. Adler, Jr.

 

Director

 

February 3, 2009

John R. Adler, Jr., M.D.

 

 

 

 

 

 

 

 

 

/s/ John P. Wareham

 

Director

 

February 2, 2009

John P. Wareham

 

 

 

 

 

 

 

 

 

/s/ Robert S. Weiss

 

Director

 

February 2, 2009

Robert S. Weiss

 

 

 

 

 

 

 

 

 

/s/ Li Yu

 

Director

 

February 3, 2009

Li Yu

 

 

 

 

 

7



 

INDEX TO EXHIBITS

EXHIBIT

 

5.1

 

Opinion of Latham & Watkins LLP.

10.5(1)

 

Accuray Incorporated 2007 Incentive Award Plan and forms of agreements relating thereto.

10.6(1)

 

Accuray Incorporated 2007 Employee Stock Purchase Plan and forms of agreements relating thereto.

23.1

 

Consent of Latham & Watkins LLP (included in Exhibit 5.1).

23.2

 

Consent of Grant Thornton LLP, independent registered public accounting firm.

24.1

 

Power of Attorney (contained on signature page hereto).

 


(1)          Incorporated by reference to the same numbered exhibit to Amendment No. 4 to Registrant’s Registration Statement on Form S-1 filed with the Securities and Exchange Commission on February 5, 2007 (No. 333-138622).

 

8


Exhibit 5.1

 

 

140 Scott Drive

 

 

 

Menlo Park, California  94025

 

 

 

Tel: (650) 328-4600  Fax: (650) 463-2600

 

 

 

www.lw.com

 

 

 

 

 

 

FIRM / AFFILIATE OFFICES

 

 

 

Abu Dhabi

Munich

 

 

 

Barcelona

New Jersey

 

 

 

Brussels

New York

 

 

 

Chicago

Northern Virginia

 

 

 

Doha

Orange County

 

 

 

Dubai

Paris

 

 

 

Frankfurt

Rome

 

 

 

Hamburg

San Diego

 

 

 

Hong Kong

San Francisco

 

 

 

London

Shanghai

 

 

 

Los Angeles

Silicon Valley

 

 

 

Madrid

Singapore

 

 

 

Milan

Tokyo

 

 

 

Moscow

Washington, D.C.

 

February 5, 2009

 

Accuray Incorporated

1310 Chesapeake Terrace

Sunnyvale, CA 94089

 

Re: Accuray Incorporated; Registration Statement on Form S-8

 

Ladies and Gentlemen:

 

We have acted as special counsel to Accuray Incorporated, a Delaware corporation (the “Company”), in connection with the proposed issuance of up to 1,500,000 shares of common stock of the Company (the “Option Shares”), par value $0.001 (the “Common Stock”), pursuant to the Company’s 2007 Incentive Award Plan (the “2007 Plan”) and up to 545,889 shares of Common Stock (together with the Option Shares, the “Shares”) pursuant to the Company’s 2007 Employee Stock Purchase Plan (together with the 2007 Plan, the “Plans”).  The Shares are included in a registration statement on Form S-8 under the Securities Act of 1933, as amended (the “Act”), filed with the Securities and Exchange Commission (the “Commission”) on February 5, 2009 (the “Registration Statement”).  This opinion is being furnished in connection with the requirements of Item 601(b)(5) of Regulation S-K under the Act, and no opinion is expressed herein as to any matter pertaining to the contents of the Registration Statement or related prospectuses, other than as expressly stated herein with respect to the issue of the Shares.

 

As such counsel, we have examined such matters of fact and questions of law as we have considered appropriate for purposes of this letter.  With your consent, we have relied upon certificates and other assurances of officers of the Company and others as to factual matters without having independently verified such factual matters.  We are opining herein as to the General Corporation Law of the State of Delaware, and we express no opinion with respect to any other laws.

 

Subject to the foregoing and the other matters set forth herein, it is our opinion that, as of the date hereof, when the Shares shall have been duly registered on the books of the transfer agent and registrar therefor in the name or on behalf of the purchaser(s), or certificates representing the Shares (in the form of the specimen certificate most recently filed as an exhibit to the Registration Statement) have been manually signed by an authorized officer of the transfer agent and registrar therefor, and when the Shares have been issued by the Company against payment therefor of not less than par value in the circumstances contemplated by the Plans, assuming in each case that the individual grants or awards under the Plans are duly authorized by all necessary corporate action and duly granted or awarded and exercised in accordance with the requirements of law and the Plans (and the agreements and awards duly adopted thereunder and in accordance therewith), the issue and sale of the Shares will have been duly authorized by all necessary corporate action of the Company, the Shares will be validly issued, and the Shares will be fully paid and nonassessable.

 

This opinion is for your benefit in connection with the Registration Statement and may be relied upon by you and by persons entitled to rely upon it pursuant to the applicable provisions of the Act.  We consent to your filing this opinion as an exhibit to the Registration Statement.  In giving such consent, we do not thereby admit that we are in the category of persons whose consent is required under Section 7 of the Act or the rules and regulations of the Commission thereunder.

 

 

Very truly yours,

 

 

 

/s/ Latham & Watkins

 


Exhibit 23.2

 

CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

 

We consent to the incorporation by reference in this Registration Statement on Form S-8 pertaining to the Accuray Incorporated 2007 Incentive Award Plan and 2007 Employee Stock Purchase Plan, of our reports dated September 5, 2008 with respect to the financial statements (which report expressed an unqualified opinion and contains an explanatory paragraph about Accuray Incorporated’s adoption of Statement No. 123R, Share-Based Payment) and the effectiveness of internal control over financial reporting (which report expressed an adverse opinion on the effective operation of internal control over financial reporting) of Accuray Incorporated for the year ended June 28, 2008 contained in the Annual Report of Accuray Incorporated on Form 10-K filed with the Securities and Exchange Commission on September 10, 2008.

 

 

/s/ Grant Thornton LLP

 

San Francisco, California

 

February 5, 2009