Welcome to our dedicated page for Picard Medical SEC filings (Ticker: PMI), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
This Picard Medical, Inc. (PMI) SEC filings page provides access to the company’s regulatory disclosures as filed with the U.S. Securities and Exchange Commission. Picard Medical is a Delaware corporation listed on the NYSE American, and its filings describe a business conducted through SynCardia Systems, LLC, a medical technology company that manufactures and sells the SynCardia Total Artificial Heart (STAH) for patients with advanced heart failure.
Through documents such as Form S-1 registration statements and Form 8-K current reports, investors can review detailed information about Picard Medical’s operations, financing arrangements, and risk factors. The S-1 filing explains that SynCardia’s platform includes the SynCardia 50cc and 70cc total artificial hearts, external drivers, ancillary hardware, and associated surgeon and center training. It also notes that the company’s customers are major medical centers operating heart transplant and mechanical circulatory support programs and that SynCardia operates an ISO 13485–certified quality management system.
Form 8-K filings for Picard Medical include disclosures on material definitive agreements, such as senior secured notes and warrant financings, bridge financing arrangements, and related security agreements. Additional 8-Ks furnish press releases and presentation materials related to clinical and technical updates on the next-generation, fully implantable Emperor Total Artificial Heart, as well as corporate events like conference presentations and exchange bell-ringing ceremonies.
On this page, users can follow real-time updates from EDGAR and use AI-powered summaries to understand the key points in lengthy filings. Forms such as the S-1, 8-K, and any future 10-K annual reports, 10-Q quarterly reports, or proxy statements can provide insight into Picard Medical’s capital structure, governance, risk profile, and the progress of its SynCardia and Emperor total artificial heart platforms. Insider transaction reports on Form 4, when available, can also be reviewed to see changes in beneficial ownership by company insiders.
Picard Medical, Inc. filed an Amendment No. 1 to its Form 10-K for the year ended December 31, 2025 to correct and fully restate the executive compensation disclosure in Item 11 and update the cover page. All other sections of the original report remain unchanged and continue to speak as of the original filing date.
The Company describes its director compensation program, under which each non-management director receives an annual cash fee of $35,000 and an annual $15,000 stock option grant, with extra cash fees for key committee chairs. Picard reports an aggregate market value of common stock held by non-affiliates of approximately $130,820,904 as of September 2, 2025, and 92,349,845 common shares outstanding as of May 11, 2026.
Picard Medical, Inc. agreed to a registered public offering of 16,666,667 shares of common stock, or pre-funded warrants for the same number of shares, together with Series A and Series B warrants to purchase up to 16,666,667 shares each. The combined public offering prices of $0.30 per share and $0.2999 per pre-funded warrant are expected to generate gross proceeds of approximately $5.0 million before fees, to be used for working capital, general corporate purposes, and debt repayment. The company granted investor, company, and insider lock-ups and set warrant exercise prices at $0.35 per share with expirations up to five years. Picard Medical also received a notice from NYSE American that its stockholders’ equity of approximately $3.8 million as of December 31, 2025 falls below the $4.0 million continued listing requirement, triggering a plan submission by June 7, 2026 to regain compliance by November 8, 2027 while its shares trade with a “.BC” below-compliance designation.
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. agreed to exchange an existing warrant series for new warrants and priced a new equity offering. The company will swap warrants exercisable for 7,009,346 shares at $2.675 per share for new warrants covering up to 10,000,000 shares at $0.35 per share, contingent on closing its current registered offering. Separately, it priced a approximately $5 million “reasonable best efforts” offering of 16,666,667 common shares (or equivalents) together with Series A and Series B common warrants, all at a combined $0.30 per share and warrants. The new and offering-related warrants generally become immediately exercisable, carry exercise prices of $0.35, include 4.99% or 9.99% beneficial ownership limits, and have terms of up to five years. Net proceeds are intended for working capital, general corporate purposes, and repaying certain senior secured note and working capital obligations.
Picard Medical, Inc. is conducting a best-efforts primary offering of 21,114,865 shares of common stock, together with pre-funded and common warrants covering up to 63,344,595 shares of common stock. The assumed combined public offering price is $0.4736 per share and accompanying warrants.
Series A and Series B common warrants each have a $0.4736 exercise price, with five-year and two-year terms, respectively, while pre-funded warrants have a $0.0001 exercise price and no expiration until fully exercised. Net proceeds are estimated at about $9.1 million and are earmarked for manufacturing efficiency projects, sales and marketing expansion, R&D and regulatory initiatives, and general working capital.
The company develops and markets the SynCardia Total Artificial Heart, currently the only FDA- and Health Canada‑approved total artificial heart, and is investing in next-generation fully implantable and driver technologies. Risk factors highlight continued operating losses, going concern uncertainty, dependence on a single product line and key suppliers, significant regulatory hurdles, and substantial warrant and option overhang that could dilute existing stockholders.
Picard Medical, Inc. is registering 11,820,331 shares of common stock, an equal number of pre-funded warrants, 11,820,331 common warrants, and 23,640,662 shares issuable upon warrant exercise in a primary offering. At an assumed price of $0.846, the company estimates net proceeds of about $9.1 million before any warrant exercises.
Each share (or pre-funded warrant) is sold with one common warrant exercisable at $0.846 for five years. Picard operates through SynCardia, which manufactures the only FDA‑ and Health Canada‑approved total artificial heart used as a bridge to transplant, with more than 2,100 implants across 27 countries and ongoing development of fully implantable and next‑generation systems.
Picard Medical, Inc. reported strong preliminary, unaudited top-line revenue growth for the first quarter ended March 31, 2026. Revenue rose 79.9% to $1.1 million from $0.6 million a year earlier, driven by higher sales of the SynCardia Total Artificial Heart and increased driver rental income, helped by favorable reimbursement and economic conditions in the U.S.
The company also implemented pricing adjustments in its driver rental program, supporting higher recurring revenue. Management highlighted progress in commercial and operational initiatives and a focus on expanding patient access and advancing a next-generation fully implantable total artificial heart. These figures are preliminary and unaudited, and final results will be reported in the upcoming Form 10-Q.
Picard Medical, Inc. entered into a securities purchase agreement with Quick Capital, LLC for a convertible promissory note with a principal amount of $555,555.56 and 80,128 origination shares of common stock. The note carries a one-time 12% interest charge of $66,666.67 and was issued with a $55,555.56 original issue discount, providing $500,000 of funded amount and $490,000 of cash proceeds after $10,000 of buyer expenses.
The note matures nine months after its April 7, 2026 issue date and is scheduled to be repaid in six equal monthly installments of $103,703.70 from July 1, 2026 through December 1, 2026. Following an event of default, the buyer may convert outstanding amounts into common stock at 75% of the lowest trading price over the prior ten trading days, subject to a 4.99% beneficial ownership limitation. The securities are being issued in a private offering relying on Section 4(a)(2) and/or Regulation D exemptions.