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. is asking stockholders to approve an amendment to its Certificate of Incorporation to increase authorized capital stock from 180,000,000 to 330,000,000 shares, including an increase in authorized common stock from 150,000,000 to 300,000,000 shares.
As of February 6, 2026, the company had 73,701,176 shares of common stock outstanding and a total of 109,402,110 shares issued or reserved, leaving 40,597,890 common shares unreserved and available. The board says more authorized shares are needed to satisfy existing obligations tied to notes and warrants and to support future capital-raising and strategic transactions.
The proxy explains that additional shares could dilute existing holders and may have anti-takeover effects, though the board states it is not aware of any takeover attempt. The board unanimously recommends voting “FOR” the increase at the virtual special meeting on March 10, 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.
Picard Medical, Inc. has filed an amended S-1 to register 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 up to 7,009,346 shares issuable upon exercise of warrants at an initial price of $2.675 per share and 9,990,654 shares issuable upon conversion, redemption or other settlement of senior secured notes due December 24, 2028.
Picard is a holding company whose operating subsidiary, SynCardia Systems, manufactures and sells the SynCardia total artificial heart, the only implantable total artificial heart approved in the United States and Canada as a bridge to heart transplantation for patients with biventricular heart failure. The company reports recurring net losses, including $21.1 million and $15.6 million for 2024 and 2023 and $22.7 million and $12.2 million for the nine months ended September 30, 2025 and 2024, with an accumulated deficit of $72.6 million as of September 30, 2025.
Picard will not receive proceeds from resale of the registered shares but may receive cash from any warrant exercises. An initial $15,000,000 principal amount of senior secured notes has been issued under a facility that permits up to an additional $35,000,000 of notes, all secured by a first-priority lien on substantially all tangible and intangible assets. Issuances of common stock upon note settlement or warrant exercise will increase shares outstanding, which were 73,701,176 before this offering and would be 90,701,176 if all 17,000,000 registered shares are issued.
Picard Medical, Inc. filed a current report describing a new communications initiative. The company issued a press release announcing the launch of the Cruxx to MedTech Podcast, a series that will explore the SynCardia Total Artificial Heart and the Emperor device. The press release is included as Exhibit 99.1 and is incorporated by reference. The company specifies that the information in this report and its exhibits is being furnished, not filed, so it is not subject to certain Exchange Act liability provisions or automatically incorporated into other securities filings.
Picard Medical, Inc. filed a current report to make public an investor presentation it plans to use for investor relations and other purposes. The presentation is included as Exhibit 99.1, dated January 13, 2026, and is incorporated by reference in the report.
The company specifies that the information in this report and the attached exhibit is being "furnished" rather than "filed," meaning it is not subject to certain Exchange Act liabilities and is not automatically incorporated into other Securities Act or Exchange Act filings.
Picard Medical, Inc. is registering 17,000,000 shares of common stock for resale by two institutional investors, HT Investments MA LLC and High Trail Special Situations LLC. These shares consist of 7,009,346 shares issuable upon exercise of warrants at an initial price of $2.675 per share and 9,990,654 shares issuable upon conversion or other settlement of senior secured notes due 2028. Picard Medical will not sell any shares in this offering and will not receive proceeds from investor resales, other than potential cash from future warrant exercises. The notes include an initial $15,000,000 principal amount and permit up to an additional $35,000,000 in notes, are secured by substantially all company assets, and can be amortized or converted in stock, which may dilute existing holders. The company operates through SynCardia Systems, LLC, which manufactures the SynCardia total artificial heart for patients with biventricular heart failure, and its common stock trades on NYSE American under the symbol PMI.
Picard Medical, Inc. entered into a securities purchase agreement with a single institutional investor for a private placement of senior secured notes and stock purchase warrants. At the initial closing on December 26, 2025, the company issued senior secured notes with an aggregate principal amount of $15,000,000, maturing on December 26, 2028, bearing a 0.00% annual interest rate. The notes require monthly amortization payments, which may be paid in cash or, if conditions are met, in shares of common stock, and can be optionally redeemed at 105% of principal upon 15 business days’ notice.
The investor also received warrants to purchase up to 7,009,346 shares of common stock at an initial exercise price of $2.675 per share, with additional warrants potentially issuable in future note draws. Picard Medical must maintain at least $4,000,000 in cash, seek stockholder approval to increase authorized common shares to at least 300 million and for the share issuances, and file a resale registration statement for the warrant and note shares. The notes are secured by a first-priority lien on substantially all company assets and certain intellectual property of subsidiary SynCardia Systems, LLC. Net proceeds are intended for working capital and general corporate purposes.
Picard Medical, Inc. filed a current report to note that members of its management team will ring the opening bell at the New York Stock Exchange. The company issued a press release about this event on December 18, 2025 and furnished it as Exhibit 99.1.
The company states that the information in this report and its exhibits is being furnished, not filed, so it is not subject to Exchange Act filing liabilities and is not automatically incorporated by reference into other securities-law filings.
Picard Medical, Inc. filed a current report to note that it issued a press release on December 9, 2025 providing an update regarding its SynCardia Total Artificial Heart. The update itself is contained in the referenced press release, which is attached as Exhibit 99.1 and incorporated by reference.
The company clarifies that the information in this report and its exhibits is being furnished rather than filed, meaning it is not automatically subject to certain liability provisions or incorporated into other securities law filings. No financial results, transaction details, or changes in corporate structure are described in this report.