Picard Medical, Inc. Announces Exercise of Underwriters’ Over-Allotment Option in Connection with its Initial Public Offering
Picard Medical (NYSE American: PMI) announced that underwriters have fully exercised their over-allotment option for the company's initial public offering. The option resulted in the issuance of an additional 637,500 shares at $4.00 per share, generating gross proceeds of $2.55 million.
The company's shares began trading on the NYSE American on August 29, 2025. WestPark Capital served as Lead Manager and Sole Bookrunner, with Sentinel Brokers as Co-Manager. E.F. Hutton and Uphorizon acted as financial advisors for the offering.
Picard Medical (NYSE American: PMI) ha comunicato che gli underwriter hanno esercitato integralmente l'opzione di sovrallocazione relativa all'offerta pubblica iniziale della società. L'opzione ha comportato l'emissione di ulteriori 637.500 azioni a $4,00 per azione, generando proventi lordi per $2,55 milioni.
Le azioni della società hanno iniziato la quotazione sulla NYSE American il 29 agosto 2025. WestPark Capital ha svolto il ruolo di Lead Manager e Sole Bookrunner, con Sentinel Brokers come Co-Manager. E.F. Hutton e Uphorizon hanno agito come consulenti finanziari dell'offerta.
Picard Medical (NYSE American: PMI) anunció que los colocadores han ejercido plenamente su opción de sobreasignación en la oferta pública inicial de la compañía. La opción resultó en la emisión de 637.500 acciones adicionales a $4.00 por acción, generando ingresos brutos por $2,55 millones.
Las acciones de la compañía comenzaron a cotizar en la NYSE American el 29 de agosto de 2025. WestPark Capital actuó como Lead Manager y Sole Bookrunner, con Sentinel Brokers como Co-Manager. E.F. Hutton y Uphorizon actuaron como asesores financieros de la oferta.
Picard Medical (NYSE American: PMI)는 주관사들이 회사의 기업공개에 대한 초과배정옵션을 전액 행사했다고 발표했습니다. 이 옵션으로 추가 637,500주가 주당 $4.00에 발행되어 $255만의 총수익을 창출했습니다.
회사의 주식은 2025년 8월 29일 NYSE American에서 거래를 시작했습니다. WestPark Capital이 Lead Manager 겸 Sole Bookrunner를 맡았고 Sentinel Brokers가 Co-Manager로 참여했습니다. E.F. Hutton과 Uphorizon는 본 공모의 재무 자문을 맡았습니다.
Picard Medical (NYSE American: PMI) a annoncé que les souscripteurs ont pleinement exercé leur option de surallocation pour l'introduction en bourse de la société. L'option a entraîné l'émission de 637 500 actions supplémentaires au prix de 4,00 $ par action, générant des produits bruts de 2,55 millions de $.
Les actions de la société ont commencé à être cotées sur la NYSE American le 29 août 2025. WestPark Capital a assuré le rôle de Lead Manager et de Sole Bookrunner, avec Sentinel Brokers en tant que Co-Manager. E.F. Hutton et Uphorizon ont agi comme conseillers financiers pour l'opération.
Picard Medical (NYSE American: PMI) gab bekannt, dass die Konsortialführer die Überzuteilungsoption für den Börsengang des Unternehmens vollständig ausgeübt haben. Durch die Option wurden zusätzliche 637.500 Aktien zu $4,00 je Aktie ausgegeben, was Bruttoerlöse von $2,55 Millionen erbrachte.
Die Aktien des Unternehmens begannen am 29. August 2025 mit dem Handel an der NYSE American. WestPark Capital fungierte als Lead Manager und alleiniger Bookrunner, Sentinel Brokers als Co-Manager. E.F. Hutton und Uphorizon traten als Finanzberater für das Angebot auf.
- Additional $2.55 million in gross proceeds from over-allotment exercise
- Full exercise of over-allotment option indicates strong investor demand
- Successful listing on NYSE American exchange provides increased visibility and liquidity
- Potential dilution for existing shareholders from additional share issuance
Insights
Picard Medical's successful over-allotment exercise signals strong IPO demand, adding $2.55M to their capital raise.
Picard Medical's underwriters have exercised their over-allotment option in full, which is a positive indicator of strong demand for the company's initial public offering. This transaction resulted in an additional
The full exercise of this option (often called a "green shoe") is particularly noteworthy as it indicates the IPO was well-received by investors. Underwriters typically only exercise these options when share demand exceeds initial supply and the stock is trading above its offering price. The additional 637,500 shares were issued at the same
The company's total capital raise has now increased by
WestPark Capital served as the lead manager, with Sentinel Brokers as co-manager, and E.F. Hutton and Uphorizon as financial advisors to Picard. The company only recently began trading on August 29, 2025, making this a quick exercise of the over-allotment option, further suggesting strong initial market reception.
TUCSON, Ariz., Sept. 09, 2025 (GLOBE NEWSWIRE) -- Picard Medical, Inc. (NYSE American: PMI) (“Picard” or the “Company”), today announced that the underwriters of its previously announced initial public offering of common stock, par value
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
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