Every 424B that Picard Medical, Inc. (PMI) has filed with the SEC in the last 12 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 424B covers the supplement that carries the terms of a priced offering, so if you follow PMI and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full PMI filings page.
Picard Medical, Inc. is registering up to 16,211,479 shares of Common Stock for resale by selling stockholders pursuant to this prospectus. The shares consist of (i) up to 8,187,766 shares issuable upon exercise of Placement Agent Warrants, (ii) 80,128 QC Origination Shares, and (iii) 7,943,585 Sindex Shares.
The prospectus states the company will not receive proceeds from sales by the selling stockholders, although Picard Medical may receive proceeds if Placement Agent Warrants are exercised for cash at the stated exercise price. The offering lists selling holders including WestPark Capital (Placement Agent Warrants) and Sindex SSI Financing, LLC (Sindex Shares). Shares outstanding were 92,349,845 as of May 11, 2026.
50,000,001 shares of Common Stock are covered by this prospectus supplement, consisting of 16,666,667 offered shares, up to 16,666,667 Pre-Funded Warrants and up to 33,333,334 Common Warrant shares.
Picard Medical is offering units composed of one share (or a Pre-Funded Warrant in lieu of a share) together with one Series A and one Series B Common Warrant at a combined public offering price of $0.30 per share/unit ($0.299 for a Pre-Funded Warrant unit). Net proceeds are estimated at approximately $3.08 million. The Placement Agent will solicit purchases on a best-efforts basis; the offering may terminate earlier or by July 13, 2026. Delivery is expected on or about May 6, 2026.
Picard Medical, Inc. has registered up to 17,000,000 shares of common stock for resale by HT Investments MA LLC and High Trail Special Situations LLC. These shares include 7,009,346 shares issuable upon exercise of warrants and 9,990,654 shares issuable upon conversion, redemption, amortization, make‑whole or other share settlement of senior secured notes due December 24, 2028.
The company is not selling shares in this prospectus and will not receive proceeds from resales by the selling stockholders, though it may receive cash if the warrants, which have an initial exercise price of $2.675 per share, are exercised. Shares outstanding would rise from 73,701,176 to 90,701,176 if all 17,000,000 shares are issued, which would dilute existing holders.
The notes are senior secured obligations backed by substantially all Picard Medical’s and certain U.S. subsidiaries’ assets and initially provided $15 million in principal, with the facility permitting up to an additional $35 million of notes subject to conditions. Picard’s business centers on the SynCardia total artificial heart platform, and the filing details extensive business, regulatory, reimbursement, operational, and concentration risks that could materially affect its financial condition.