Picard Medical, Inc. Announces Closing of $17 Million Initial Public Offering

Rhea-AI Summary

Picard Medical (NYSE American: PMI) has successfully completed its Initial Public Offering (IPO), raising $17 million in gross proceeds. The company offered 4,250,000 shares of common stock at $4.00 per share.

Trading of PMI shares commenced on the NYSE American exchange on August 29, 2025. The underwriters, led by WestPark Capital as Lead Manager and Sole Bookrunner, have a 30-day option to purchase up to 637,500 additional shares to cover potential over-allotments.

Positive

• None.

Negative

• Small IPO size of $17 million may limit operational expansion capabilities
• Low share price of $4.00 could indicate higher volatility risk

Insights

Investment Banking Specialist

Picard Medical successfully completed its $17M IPO at $4.00 per share, marking its debut on NYSE American under ticker 'PMI'.

Picard Medical has successfully completed its $17 million Initial Public Offering (IPO), selling 4,250,000 shares at $4.00 per share. The company began trading on the NYSE American exchange under the ticker symbol 'PMI' on August 29, 2025. This capitalization event provides Picard with substantial working capital to potentially accelerate operations and growth initiatives.

The structure of this offering includes a 30-day option for underwriters to purchase up to an additional 637,500 shares to cover potential over-allotments, which could increase the total raise if exercised. WestPark Capital served as the Lead Manager and Sole Bookrunner, with Sentinel Brokers as Co-Manager.

At $4.00 per share, this offering positions Picard with a modest initial valuation compared to typical medical technology IPOs. The pricing suggests a strategy aimed at ensuring a successful offering while leaving room for potential upside for initial investors. The IPO proceeds will provide the company with capital for R&D, market expansion, or debt reduction, though specific use of proceeds isn't detailed in this announcement.

The company's decision to list on NYSE American rather than NASDAQ suggests a strategic choice that balances visibility with listing requirements appropriate for an emerging growth company. The successful completion of this offering during current market conditions demonstrates investor confidence in Picard's business model and growth potential.

TUCSON, Ariz., Sept. 02, 2025 (GLOBE NEWSWIRE) -- Picard Medical, Inc. (NYSE American: PMI) (“Picard” or the “Company”), today announced that it closed its initial public offering of 4,250,000 shares of common stock, par value $0.0001 per share (the “Common Stock”) at $4.00 per share (the “Offering”). The Company has granted the underwriters an option, within 30 days from the closing date of the Offering, to purchase up to an additional 637,500 shares of Common Stock the public offering price, less underwriting discounts, to cover over-allotment, if any. The gross proceeds from the offering were $17 million, before deducting underwriting discounts and estimated offering expenses. The shares began trading on the NYSE American, LLC (“NYSE American”) under the ticker symbol “PMI” on August 29, 2025.

WestPark Capital, Inc. was Lead Manager and Sole Bookrunner for the Offering and representative of the underwriters for the Offering. Sentinel Brokers Co., Inc. was Co-Manager. E.F. Hutton & Co. and Uphorizon, LLC were financial advisors to the issuer.

The offering was made only by means of a prospectus, copies of which may be obtained from WestPark Capital, Inc. by email at info@wpcapital.com or via standard mail to WestPark Capital, Inc., 1800 Century Park East, Suite 220, Los Angeles, CA 90067, or from the SEC website at www.sec.gov.

A registration statement relating to these securities was declared effective by the Securities and Exchange Commission (“SEC”) on August 12, 2025.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

 About Picard Medical, Inc.

Picard Medical, Inc. is the parent company of SynCardia Systems, LLC (“SynCardia”), the Tucson, Arizona–based leader with the only commercially available total artificial heart technology for patients with end-stage heart failure. SynCardia develops, manufactures, and commercializes the SynCardia Total Artificial Heart (“STAH”), an implantable system that assumes the full functions of a failing or failed human heart. It is the first artificial heart approved by both the FDA and Health Canada, and it remains the only commercially available artificial heart in the United States and Canada. With more than 2,100 implants performed at hospitals across 27 countries, the SynCardia Total Artificial Heart is the most widely used and extensively studied artificial heart in the world. For more information, please visit https://www.syncardia.com.

Forward-Looking Statements

This press release includes forward-looking statements that involve risks and uncertainties. Forward-looking statements are statements that are not historical facts. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based. No assurance can be given that the offering discussed above will be completed on the terms described, or at all. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Registration Statement and related preliminary prospectus filed in connection with the initial public offering with the SEC. Copies are available on the SEC's website, www.sec.gov.

Contact:

Investors

Eric Ribner
Managing Director
LifeSci Advisors LLC
eric@lifesciadvisors.com

Picard Medical, Inc./SynCardia Systems, LLC
IR@picardmedical.com

General/Media

Brittany Lanza
blanza@syncardia.com

FAQ

How much did Picard Medical (PMI) raise in its IPO?

Picard Medical raised $17 million in gross proceeds through its IPO, offering 4,250,000 shares at $4.00 per share.

When did PMI stock begin trading on the NYSE American?

PMI shares began trading on the NYSE American exchange on August 29, 2025.

What is the IPO price for Picard Medical (PMI) shares?

Picard Medical's IPO price was set at $4.00 per share.

Who were the underwriters for Picard Medical's IPO?

WestPark Capital served as Lead Manager and Sole Bookrunner, with Sentinel Brokers as Co-Manager. E.F. Hutton and Uphorizon acted as financial advisors.

What is the over-allotment option in PMI's IPO?

Underwriters have a 30-day option to purchase up to 637,500 additional shares at the public offering price, less underwriting discounts.