Recent Updates — PMI
On October 22, 2026, Picard Medical issued 200,000 shares of common stock to the placement agent and its employee designee in exchange for the surrender of all outstanding warrants from a December 2025 private placement. The warrants were previously exercisable for 8,187,766 shares following a 1-for-50 reverse stock split effective July 31, 2026. No cash consideration was paid by either party, and the company relied on an exemption from registration under Section 3(a)(9) of the Securities Act. The transaction fully satisfied and discharged the warrants, which were automatically cancelled. Picard Medical develops and manufactures medical devices for minimally invasive procedures.
The Board of Directors approved an amendment to the Company's Amended and Restated Bylaws, effective immediately, reducing the quorum required for a meeting of stockholders from a majority of outstanding shares entitled to vote to thirty-three and one-third percent (33 1/3%). This change complies with Section 216 of the Delaware General Corporation Law and NYSE American Company Guide requirements. Picard Medical, Inc. operates in the medical device industry, developing minimally invasive surgical technologies.
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.
NYSE American has accepted Picard Medical's compliance plan to address delisting risks related to stockholders' equity and recent financial losses. The company previously reported a stockholders' deficit of $1.4 million as of March 31, 2026, and losses in three of its four most recent fiscal years. This acceptance allows the company to maintain its listing on the NYSE American under the ticker PMI through a compliance period ending November 8, 2027, subject to quarterly reviews and the achievement of specific milestones. Picard Medical is a medical device company that develops and commercializes total artificial heart technology.
Picard Medical, Inc. announced a 1-for-50 reverse stock split to support continued compliance with NYSE American listing standards. The split was approved by stockholders on July 17, 2026, and is scheduled to become effective at 5:00 PM ET on July 31, 2026. Following the split, the company's common stock will begin trading on a split-adjusted basis on August 3, 2026, under the existing symbol "PMI" with a new CUSIP number 71953R 207. Picard Medical is a medical device company that manufactures the SynCardia Total Artificial Heart.