Financing ·
Picard Medical issues $1M of unsecured convertible notes due September 2027
PMIPicard Medical, Inc.
On September 30, 2026, Picard Medical issued $1.0 million in aggregate principal amount of three separate unsecured convertible notes to accredited investors. The notes bear interest at 3.0% per annum and mature on September 30, 2027. Holders may convert the outstanding balance into common stock at a price equal to the higher of $4.00 or the preceding day's closing price, capping conversion at 250,000 shares excluding accrued interest. Each share issued upon conversion triggers the issuance of a pre-funded warrant to purchase one additional share at $0.0001 per share, exercisable for two years. The company operates in the medical device industry.